- AMP Token price action projects a bullish uptrend as it rises from the support trendline.
- AMP Token price trades below all the crucial EMAs in the daily chart.
- The pair AMP/BTC is trading at 0.000001068 BTC with an intraday gain of +6.45%.
AMP token price action shows a bullish engulfing candlestick in the daily technical charts, which indicates increased underlying bullish sentiments. In addition, the price rises from the demand met near the support trendline, indicating that the bullish sentiments are on the rise.
The intraday volume has risen above the 20-days volume MA, indicating that there is more buying pressure. However, the bearish alignment of the daily EMAs means that the bull run will face a lot of obstacles.
AMP Token trades at $0.05052, an increase of +6.45% market capitalization over one day. This suggests that the price is on a bull reversal. Moreover, the intraday trading volume has increased by around 150%.
AMP Token Price Rises In 4-hour Chart
AMP token prices action denotes a sudden rise in bullish sentiments evident by the continuous formation of the bullish engulfing candlestick in the 4-hour chart. The price breaks above the $0.080 mark, and it may even continue to head higher.
According to price action, demand levels for the token are at the $0.045 and $0.035 mark. As a result, bulls could encounter resistance at $0.060 and $0.10 if the bullish trend persists above the resistance trendline.
The EMAs on the technical chart for the 4-hour chart are more powerful, as the price breaks above the 200-period EMA. Furthermore, the dips to the 200-period EMA can be seen as a buying opportunity.
The RSI indicator indicates a sudden rise in underlying bullish inclinations. Furthermore, the RSI slope rises towards the overbought zone in the daily chart.
The ADX indicator indicates a rise in trend momentum.
Conclusion: The AMP token’s price has been rising higher in the past few sessions in the 4-hour chart. Moreover, the price breaks above the 200-day EMA in a shorter timeframe. Therefore, it can shortly retest the bullish breakout before continuing the trend.
Support – $0.045 and $0.035
Resistance – $0.060 and $0.10