AMP coin price shows an early bearish reversal within the falling channel resulting in a 5% fall. Should you keep holding for a jump to utmost resistance?

Key technical points:
<ul>
 	<li style="font-weight: 400">AMP prices fail to reach the 50-day EMA.</li>
 	<li style="font-weight: 400">The RSI slope shows a sharp reversal from the halfway mark.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of AMP is $57.46 Million, marking a 162% rise. </li>
</ul>
<h2>Past Performance of AMP</h2>
AMP coin price showcased a bullish reversal from the support trendline of the falling channel pattern resulting in a 13% growth in three days. However, the buyers fail to sustain the uptrend and reach the 50-day EMA due to the sudden increase in selling pressure. The downfall comes as a post-retest reversal of the $0.024 mark and undermines the bullish candle formed yesterday.

<img src="https://s3.tradingview.com/snapshots/2/2pLuFuGa.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/2pLuFuGa/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>AMP Technical Analysis </h2>
AMP coin price action projects a downtrend continuation as the sellers overtake the trend control and warn the support trendline fallout. However, the downtrend will need to surpass the $0.020 low to crack the falling channel.

The falling trend in the EMAs persists in the bearish alignment with the 50-day EMA providing dynamic resistance to the bullish reversal. 

RSI Indicator: The RSI slope skyrocketed to the central line, indicating the aggressive buying in the market. However, the indicator reflects a sharp reversal and fails to surpass the 50% line.

MACD Indicator: The MACD and signal lines bullish crossover offers a buy signal for the interested traders. Moreover, these lines may soon cross above the neutral line, providing additional confirmation.

In a nutshell, the <a href="https://www.cryptoknowmics.com/news/amp-technical-analysis-highs-and-lows-since-two-months-expect-new-resistances/">AMP</a> technical analysis shows a potential fall to the $0.020 mark. 
<h2>Upcoming Trend </h2>
AMP coin price experiences an impulsive ripple of selling pressure undermining the bull cycle and reversing the price to the support trendline. Hence, sellers can find entry opportunities at market prices with a target of $0.020.

Resistance Levels: $0.025 and $0.028

Support Levels: $0.020 and $0.018

AMP Technical Analysis: Early Bearish Reversal Within Falling Channel 

AMP coin price shows an early bearish reversal within the falling channel resulting in a 5% fall. Should you keep holding for a jump to utmost resistance?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AMP Technical Analysis: Early Bearish Reversal Within Falling Channel

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