The AMP altcoin has displayed a notable run over the recent time, indicating a rise in investor’s interest in the mid-cap tokens. The AMP token has recorded a jump of 175% within the past seven days, and its current Year-to-Date returns stand at over 265%, making it a potential token for this bull run.
The AMP price traded in a closed range between $0.00371 and $0.00570 for over a month, indicating weak buying and selling pressure for the crypto token in the industry. Following this, the market gained momentum and recorded a jump of approximately 205% in valuation.
After this, the price faced rejection at the resistance level of $0.0156. Since then, the price has been trading in a closed range between $0.0125 and $0.0156, highlighting a cool-off in the price action in the market.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the green histogram, indicating a reduced price action for the altcoin in the market. Moreover, the averages show a constant rise, suggesting uncertainty in future price movements.
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Will AMP Crypto Explode?
If the bulls push the price above the resistance level of $0.0156, the AMP price will regain momentum and test its upper resistance level of $0.020. Further, if the market holds the price at that level, it will prepare to test its resistance level of $0.0242 in the coming time.
Conversely, if the bears overpowered the bulls, the price would lose momentum and fall to test its lower support level of $0.0091. Further, if the bears continue to power over the bulls, it will plunge and prepare to test its low of $0.0057 in the upcoming weeks.
