AMP Technical Analysis: Price Mainly Oscillating Between $0.054 and 0.045 - A Stable Range

Ankita  |  Oct 16, 2021

AMP is described as the new digital collateral token offering instant, verifiable assurances for any kind of value transfer. It was launched in September 2020. Using Amp, networks like Flexa can quickly and irreversibly secure transactions for a wide variety of asset-related use cases.  Amp claims to offer a straightforward but versatile interface for verifiable collateralization through a system of collateral partitions and collateral managers. Let us look at the technical analysis of AMP.

Past Performance

The AMP opened at $0.047 on 9 October 2021. It closed on 15 October 2021 at $0.051. There was an overall change of 8.5% over the week.

TradingView Chart

 

AMP Technical Analysis

The price chart is moving inside a box for several days. The price is oscillating majorly between $0.054 and 0.045. This is showing stability in the prices. The current trading price of AMP is 0.051 which is about 1.29% down from yesterday’s close.

OBV is showing that the buying and selling pressures have been balancing out each other, and hence the signal is neutral. The traders may hold their current positions.

RSI is also moving very close to the equilibrium level, i.e. 50% mark. It is currently at 54.33%. This again indicates that the traders may hold their current positions.

Being a lagging indicator, MACD is confirming that the price was moving within the box. This can be seen as the fast and slow lines are moving close to each other and in a horizontal direction. MACD is showing no divergence from the price chart.

Day-Ahead and Tomorrow 

Fib retracement shows that the was moving between two Fibonacci levels. These were at $0.04 and at $0.05. The $0.05 level is being tested right now.

Thus, the indicators are giving neutral signals. This means that the traders may hold their current positions. They may wait for the trend to break the box before making a clear call to buy or sell.

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