AMP is a new digital collateral token offering instant and verifiable assurances for value transfers of any kind. Using AMP- Asset-related transactions can be quickly and irreversibly secured.

Also, If a BTC or ETH payment fails due to unconfirmed or long transaction times, "the Amp collateral could instead be liquidated to cover the losses," while the vendor receives payment in fiat coins, potentially improving both parties' satisfaction. Let us look at the technical analysis of AMP.
<h2><b>Past Performance</b></h2>
The current price of AMP is $0.060, the <a href="https://www.cryptoknowmics.com/news/amp-technical-analysis-price-below-the-first-fibonacci-pivot-resistance-level-of-0-08/">price</a> has depreciated in the last 24 hours by 1.21% and appreciated roughly by 1.39% in the last seven days. The market cap of AMP has depreciated by 0.93%.

AMP has traded between $0.059-$0.063 in the last 24 hours.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/o/oEQhCF5X.png" alt="TradingView Chart" />

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<a href="https://www.tradingview.com/x/oEQhCF5X/">https://www.tradingview.com/x/oEQhCF5X/</a>
<h2><b>AMP Technical Analysis
</b></h2>
Currently, the <strong>RSI</strong> is at 50.19%. This month it has made constant support above the equilibrium level. Suggesting <strong>RSI</strong> touched the mark of 62.41% and took a sharp downswing, indicating the selling pressures are very high at higher levels. Therefore, after creating support for some time we can expect the price to bounce back.

<strong>MACD and EMA</strong> are close to the zero range, suggesting the traders shall as there might be a trend reversal also a bearish crossover can be seen on the chart indicating the selling pressures are higher than the buying pressures.

On the daily chart, the <strong>OBV</strong> has broken the neutral trend and has taken a slight dip, this suggests the interest of investors is depreciating.
<h2><b>Day-Ahead and Tomorrow</b></h2>
On the chart, the price is falling, however, we can expect the price to take support at the current price, after taking support from the current level, it might bounce back. The FIB retracement level is formed at $0.07. The price is close to the lower circuit of $0.05 at this level, the price will resist further breakdown.

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AMP Technical Analysis: Price Rangebound, Look for Support Levels of $0.053

As per the technical analysis, AMP is falling, however, we can expect the price to take support at the current price, after taking support from the current level, it might bounce back.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

AMP Technical Analysis: Price Rangebound, Look for Support Levels of $0.053

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