AMP token price resonates lower under tremendous selling pressure. A breakout of $0.0040 can lead to a fatal downfall shortly.

AMP claims to be a simple and flexible interface for verifiable collaboration through a system involving collateral partitions, collateral managers, and other collateral parts. Collateral partitions provide collateral to any account or transaction. Moreover, they can also carry balances on the Ethereum blockchain that are verifiable. Collateral managers are smart contracts that can lock and release collateral and redirect it as required in support of value transfer activities.
<h2>Past Performance of AMP</h2>
On July 29th, AMP coin price found supply near the resistance level of $0.0078. Thus, resulting in a downfall with the formation of lower highs. Hence, <a href="https://www.cryptoknowmics.com/news/amp-technical-analysis-price-successfully-broke-recent-high-at-0-05-near-crucial-resistance-level-formed-at-0-06/">leading to a price fall</a> of approximately 50% back to the support level of $0.0040. The breakout of this support level can lead to a downfall. However, it is plausible for the price to resonate back to the resistance trendline. 

<img class="aligncenter size-full wp-image-214205" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/09/wbje1akQ-1-e1632294725137.png" alt="" width="1368" height="650" />

Source - <a class="editor-rtfLink" href="https://www.tradingview.com/x/wbje1akQ/" target="_blank" rel="noopener">Tradingview</a>
<h2>AMP Technical Analysis</h2>
At the time of this writing, the AMP cryptocurrency price is at $0.04422. It has experienced a gain of 2.39% in the last 24 hours. This suggests a potential bullish reversal, with a gradual rise of buying pressure. We have the risky chance to buy the dip if you look for bullish candlesticks around the support line that can give a slight uptrend of 15% to 25%.

The daily exponentially increasing averages of 50 &amp; 200-days are higher than the AMP Coin value. Therefore, the 50-days EMA curve could indicate a high probability of a Death Cross, which could cause a multiple-fold increase in underlying bearishness.

The MACD line and the signal line in the daily chart indicates a buy call. An additional indication of a strong selling power is the intensification in the bearish Histogram. As a result, investors can expect the AMP to fall below $0.0040 over the consolidation period.

Currently, the slope of the RSI indicator is below the central line of the daily charts. RSI support is close to the 30% mark after it was rejected from the central lines. The slope keeps climbing back towards that region. However, the RSI, which slopes downwards, is indicative of a strong bearish bias.
<h2>Day-Ahead and Tomorrow</h2>
AMP coin price is trading extremely close to a solid support trendline. The breakout of which may lead to a fatal downfall.

The 78.60% Fibonacci Pivot level coincides with the support level of $0.0040. Thus, the breakout of this level can lead to a 20% fall.

AMP Technical Analysis: Price Stands at a Crucial Support Level    

AMP token price resonates lower under tremendous selling pressure. A breakout of $0.0040 can lead to a fatal downfall shortly.

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: Price Stands at a Crucial Support Level

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