•The Amp token has been on a bullish trend since Thursday, with the price reaching its highest point since September 11.
•On-chain metrics show that the number of people using and holding Amp is relatively low.
•Technical analysis suggests that Amp could have further upside potential if it can break through resistance at $0.008.
Amp Price Prediction: Bullish Momentum
The Amp token has been on a bullish trend since Thursday, with the price reaching its highest point since September 11 last year – a jump of more than 121%. On-chain metrics show that the number of people using and holding Amp is relatively low, but this hasn’t stopped the coin from rising in value.
The most relevant news to note over the past few days is the decision by New York prosecutors to sue CoinEx, a small crypto exchange. The statement cited tokens like Amp, Luna, and RLY as securities under their Martin Act, potentially opening up new opportunities for investors in these tokens.
Daily Chart Analysis
Analyzing the daily chart shows that Amp has made a strong recovery in recent days, breaking through key resistance levels such as $0.0059 and $0.005 while also moving above both 25-day and 50-day moving averages. Oscillators such as RSI and MACD are also rising at a period of high volume, suggesting further upside potential for Amp if it can break through resistance at $0.008.
Four Hour Chart Analysis
Taking a look at the four hour chart reveals similar trends; with Amp crossing multiple resistance points such as $0.0053 and $0.0059 while maintaining an overall bullish trendline – indicating further upside potential should it be able to break past these levels again successfully.
Overall, technical analysis suggests that there may be more room for growth for Amps price if it can manage to break through key resistances levels once again successfully – giving investors plenty of reasons to believe in its prospects going forward into 2021 and beyond!