AMP Price Analysis: Since its Inception, the AMP Token has Continually Declined
- The AMP token has repeatedly been falling since inception, as a result of which the crypto has lost approximately 77.6% of its cost in 9 months.
- The AMP crypto suggests the Double Top formation in the hourly time frame, and the current price is near the neckline.
- The AMP/BTC pair price is trading at 0.000000693, which is bullish by 6.04%.
The price of the AMP token has been trending downward since the beginning, with the coin losing around 77% of its value. However, AMP Crypto price action is seeing a double top formation on the hourly price chart (mentioned in the price chart), and the current price is trading just above the neckline of the following trading pattern. Meanwhile, the overall outlook looks very bearish.
AMP Crypto live price is trading at $0.0270, which is slightly up by 1.35%. However, the coin has lost 41% of its trading volume in the last 24-hour session. AMP Crypto does not have much volatility on the daily price graph, as the daily volume bar remains below the average line (blue). Meanwhile, the volume to market capitalization ratio is 0.01353. AMP has a market dominance of 0.07% in the entire cryptocurrency.
The immediate support for the AMP token is at $0.0250 and resistance at $0.30. However, the AMP/BTC pair is trading at 0.0000000693, which is up by 6.04%. Similarly, the AMP/ETH pair is trading at 0.000001028 ETH. Meanwhile, the USDT pair of AMP token is trading below the 20-day EMA in terms of the daily price graph.
AMP token seems bearish after forming a Double Top pattern
The daily price graph of AMP token has been trading below the Redzone of Ichimoku indicator, where the Leading Span A is at $0.02899; on the flip side, the leading span B is at $0.03338-mark. The Ichimoku suggests the panic-sellers empower.
The Stoch RSI is moving downward after generating the bearish crossover. It seems the K and D lines are ready to dive into the oversold stage over the daily price chart.
The technical indicators are suggesting the seller’s dominance on the AMP token price. If Token’s price breaks down the neckline of double top formation, it may hit the 2022 low before the recovery.
Resistance level- $0.030and $0.034
Support level- $0.0270 and $0.021
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.