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Recently, the AMPUSDT market became bullishly volatile. However, this only lasted for a short time (three sessions on a daily chart). A downward correction that spanned over weeks occurred before price activity settled above the $0.007000 price level. At this point, let’s try to examine how this market may behave.
Key Price Levels:
Resistance: $0.009000, $0.01100, and $0.01500
Support: $0.008000, $0.007500, and $0.007000
AMPUSDT Resumes Upside Corrections
Price action in the AMPUSDT daily market has been able to resume an upside correction above the $0.008500 mark. Here, the current session has placed the price of the token at the $0.008757 mark, while it stands above the Guppy Multiple Moving Average (GMMA) lines.
Meanwhile, we can see that the Stochastic Relative Strength Index (SRSI) lines performed a crossover above the 50 mark of the indicator. Additionally, the lines of the indicator have been trending upward ever since. Technical indicators on this chart suggest that price action may have found support above the $0.008000 mark and may move on from there.
AMPUSDT Stays Focused on Hitting Higher Resistance Marks
It can be easily perceived that the AMPUSDT market, even on the daily chart, is facing some rejection already. However, we can also see that buyers are still clinging to most of the recorded profits in the session. Additionally, the last price candle on the 4-hour chart stands above the GMMA lines.
Meanwhile, the lines of the Moving Average Convergence Divergence (MACD) indicator lines are still trending upward. Both leading and lagging lines are now above the equilibrium level. The bars of the MACD are also solid green and are above the equilibrium level. Therefore, crypto signals with targets at the $0.01000 mark may still be used in this market.
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