AMP Crypto Spiked From Support: Is It About To Get Wings Soon?

• 1 Social dominance and user growth show the popularity of the AMP network, with an increase in holders and whale activity contributing to market hype.
• 2 The CMP is at $0.00791, potentially reaching $0.01200. Meanwhile, the AMP is steady at current price levels, with bears in the rear and the potential for a rise. 

There has been a fierce price battle in AMP’s price between bulls and bears on the daily chart, which caused a significant formation in price structure, with bulls initially leading the way as the price surged from $0.00150 to $0.01690. 

However, on March 14th, 2024, bears caused the market to be disrupted, resulting in a decrease in momentum for the bulls. As a result, bears took control and established new low and high points on the daily chart, creating a support level at the price of $0.00575. Afterward, the price remained stable at this vital level for a few daily sessions.

The most recent price shows an increase from the $0.00575 support level on April 20th and suggests a slight resistance for bears, which could indicate a resurgence of bullish momentum.

Also, the AMP crypto is nearing the primary resistance levels set by the 20-day and 50-day Exponential Moving Averages on the daily chart. At the same time, the RSI stands at 46.88, finding support on the 14-SMA, while the MACD is at -0.00036, showing a bullish crossover.

At present, the AMP price rose 0.38% since yesterday and was at $0.00791 at press time. If the demand for AMP Network grows, it could experience a significant recovery from its current price point. The price might reach $0.01010 next, possibly going even higher to $0.01200.

On the other hand, if the price of the AMP cryptocurrency falls below the $0.00575 support level, it could drop further and hit even lower levels in future sessions.

AMP Price, Volume, Volatility, And Market Cap Evaluation

This graph compares the fluctuations in volume with the changes in the price of AMP crypto. Further, research indicates that the trading volume of AMP crypto is slowly growing, with a sense of optimism observed in recent trading sessions. Nevertheless, the AMP price stability is evident as volatility has decreased from 0.485 to 0.041.

Moreover, the AMP crypto seems comfortable at the current price levels, which shows that the sellers are sitting in the rear, and the bulls may assist the AMP crypto price rise.

Similarly, the current volume is 17.75 Million at press time, and the market capitalization is 336.35 Million. Higher market capitalization often provides better liquidity as it assists in investing better and buying or selling AMP assets more quickly and easily. 

Similarly, studying market cap changes in AMP can reveal insights into potential price movements and overall market health over time.

Likewise, it is essential to consider the trading volume in conjunction with the market cap. Since the market cap is also growing with price surges and trading volume is increasing gradually, this might indicate growing liquidity.

Twitter Followers, Total Number of Holders, Percent of total supply in profit, And Whales Activity Analysis

The social dominance, including Twitter (X) AMP news, Twitter (X) followers, and social volume (including active users of Telegram and Twitter), exhibits a positive trajectory. There is also an uptick in AMP active users and Twitter chatter. These metrics confirm that the AMP network is widespread.

The AMP crypto has witnessed a continuous surge in the total number of holders in the last six months. The total number of holders has risen to a current value of $96.7K from nearly 95.7 K in November 2023.

Moreover, the chart displays the activity of whales in the AMP crypto over some time, along with the price movement in the same duration. The analysis shows that the whales have continuously increased their AMP Network portfolio since January. 

The percentage of total supply in profit measures market hype in AMP crypto, which is at 80.801. It measures the percent of total supply in profit earned for AMP crypto assets as the ratio between the total supply in profit and the total circulation of the AMP Network.

Summary

There was a price battle in AMP’s price between bulls and bears on the daily chart. Bulls initially led, with the price surging until bears disrupted on March 14th, causing a decrease in momentum, which eventually led to the creation of a $0.00575 support level. 

The current price is $0.00791, with the potential to reach $0.01200, and AMP crypto is steady at current price levels, with sellers in the rear and the potential for a price rise. 

Market capitalization is $336.35 Million, providing liquidity for investing. Market cap and trading volume changes offer insights into price movements and market health. Social dominance and user growth show the popularity of the AMP network, with an increase in holders and whale activity contributing to market hype.

Technical Levels

Support Levels: $0.00575

Resistance Levels: $0.01010

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.