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AMP Price Analysis: AMP Token Breaks Out Of The $0.073 level Forecast A Bull Run

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  • The AMP token price has recently breached the $0.073 level with a boom in intraday trading volume.
  • The coin price moves with a bullish alignment of 50, 100, and 200 EMA in the daily technical chart.
  • The AMP/BTC pair trades at 0.000002079 BTC with an intraday gain of 36.66%. 

AMP Token price fell 60% in value after rejection from the $0.073 level; however, it has managed to recover all of the fall projects a bull run. The coin price has observed an increasing trading volume for almost a week. The long tail formation of the candles indicates increasing buying pressure. 

The crypto asset is trading above all the critical EMAs – 50, 100, and 200 EMA aligned in ascending order projecting an underlying bullish sentiment. As a result, investors may find the token price hitting the $0.1 mark. 

Presently, AMP token trades at $0.7761 with an intraday gain of 36.30% in the market cap. Moreover, the intraday trading volume has boomed 1052% within the last 24 hours, projecting the bullish outlook of the coin. 

As per the pivot points standards (Traditional, Auto), the coin price may find support at $0.047 and $0.014 if the price reverses. However, the likely bull might face resistance from the $0.10 and $0.12.

Bull Run In AMP Token Backed With Booming Bullish Volume

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What Is AMP?

Amp is a new digital collateral token offering quick, provable assurances for any value of fund transfer. Employing Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.

Uniqueness of AMP

Amp claims to offer a straightforward but versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. 

Collateral partitions can be designated to collateralize any account, application, or even transaction and carry balances directly verifiable on the Ethereum blockchain. Collateral managers are smart contracts that can lock, release, and redirect collateral in these partitions as needed to support value transfer activities. 

Amp supports a broad diversity of use cases for collateralization and ideas like predefined partition strategies, allowing unparalleled capabilities such as collateral models where tokens can stake without leaving their original address.

Conclusion – The expanding volume range of AMP attracts more players due to the strong breakout. Investors may enter with a short amount, but the perfect entry opportunity will be at the retest. 

Furthermore, the unique use case of the network supported with increasing volume promises astonishing growth ideas for the network community and the investors.

Support – $0.047 and $0.014

Resistance – $0.10 and $0.12

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