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AMPUSD price movements touched down at a base level near the $0.00300 price mark. However, this level seems strong enough to cause a rebound, and price action increased by 3.95%. Furthermore, trading indicators seem to be suggesting that more upside movement may be seen in this market.
AMP Analysis Data
AMPUSD Value Now: $0.00324
AMP Market Cap: $134,624,476
AMP Moving Supply: 42,227,702,186
AMP Total Supply: 99,444,125,026
AMP CoinMarketCap Ranking:174
Major Price Levels:
Top: $0.00324, $0.00354, and $0.00354
Base: $0.00300, $0.00280, and $0.00250
AMPUSD Price May Retrace Significantly Upwards as Price Action Corrects Off Fibonacci Level 100
Price activity in the AMPUSD market has been on a steady downtrend since it touched down on the Fibonacci Retracement level of 100. Also, this level somewhat aligns with the floor of the Bollinger Bands indicator. Meanwhile, studying the activities on the Stochastic Relative Strength Index (RSI) shows that more upside momentum is building up. The curve of the RSI has just done a bullish crossover. At the same time, the Average True Range (ATR) lines are pointed slightly upward to indicate that the market is on an uptrend. Consequently, this suggests that the price may increase further.
AMPUSD Price Action Is Quickly Gathering Upside Traction
Since two trading sessions ago, AMPUSD price action on the 4-hour has been gathering moderate gains. However, in the current session, AMPUSD price action has just poked through a very important level as more buyers pile in their orders. The present price of the AMPUSD now lies above the middle band of the Bollinger Bands indicator, and this suggests that price action may gain more upside traction. Also, the ATR indicator line is ramping more steeply upward at this point. Likewise, the RSI curves have reached the overbought region and are still rising. With these many indications, traders can anticipate a retracement of the $0.00380 mark.
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