AMP/USDT Bulls Face Strong Restraint

The AMP/USDT market has seen tiny gains since the previous session. This minimal gain has even come against further restraint. As a result, the token has only seen an overall price increase of roughly 3%. Yet, there are still indications that price actions are up against positions that may introduce more losses.

Amp Statistics:

AMP Price: $0.008390

Amp Market Capitalization: $677.65M

Amp Circulating Supply: 99.21B

Amp Total Supply: 80.72B

AMP CoinMarketCap Rank: 124

Key Price Levels:

Resistance: $0.008500, $0.009000, $0.009500

Support: $0.008000, $0.007500, $0.007000

AMP/USDT Bullish Activities Grow Thin

The previous session in the Amp daily market was bullish, even as price action fell below the 20-day Moving Average (MA) line. As a result, the session faced strong contractions. The ongoing session maintains the same characteristics, considering the appearance of the corresponding price candle.

Furthermore, here, price action stands above the $0.008000 mark with all of the MA lines below price action. Meanwhile, the Stochastic Relative Strength Index (RSI) lines are running sideways at the 0.00 level of the oversold region. Consequently, this suggests that the $0.008000 price threshold level may represent a stronghold for bullish traders in this market.

Amp Experiences a Moderate Rejection

In the AMP/USDT 4-hour market, the latest session shows price action experiencing a strong downward retracement. Nevertheless, prices remain afloat above the alleged strong support of $0.008000. Meanwhile, here, price activity has fallen below most of the MA lines but remains just above the 200-day MA curve.

Also, the Stochastic RSI lines are still rising upwards into the oversold region despite the ongoing rejection. At this point, traders can anticipate the support at the $0.008000 mark as a baseline, which may effectively break the downward correction as the market may continue towards the $0.008500 mark.

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