Amp is a blockchain-based platform for facilitating secured asset transfers. By using collateral pools, AMP spreads the risk among various network participants. It is a decentralized, fast, and hack-free ecosystem suitable for solving real-life problems. AMP is the in-house token of this network and its technical analysis is as follows:

Past Performance

On Jun 4, 2021, AMP opened at $0.04. On Jun 10, 2021, AMP closed at $0.07. Thus, in the past week, the price has increased by roughly 75%. In the last 24 hours, AMP has traded between $0.067-$0.073.

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Day-Ahead and Tomorrow

Currently, AMP is trading at $0.073. The price has increased from the day’s opening price of $0.07. Thus, the market seems bullish.

The MACD and signal lines are positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to rise further.

Currently, the RSI indicator is at 72% – in the ‘overbought’ region. It faced rejection at 52% and rose to the current level. Thus, buying pressures are very high. Hence, the RSI oscillator is giving further credence to the bullish market momentum indicated by the MACD oscillator.

Besides, the OBV indicator is upward sloping too. Thus, buying volumes are higher than selling volumes. High buying activity will exert upward pressure on the AMP price. In short, all three oscillators have given positive signals.

AMP Technical Analysis

Currently, the price is above the first Fibonacci pivot resistance level of $0.072. The price may soon surpass the second and third resistance levels of $0.073 and $0.076, respectively.

The price has tested and broken out of the 23.6% FIB retracement level of $0.072. It may soon break out of the 23.6% FIB extension level of $0.076. Thus, as of now, the bulls are strong. Hence, the price uptrend is expected to continue tomorrow as well.