What Will Be The Next Move In AMP Price?

17 Agu

This bearish downward trend began in March 2024. This happened after its price reached a swing high of $0.01690.

Since that peak, the asset has been continuously declining. It most likely appeared as a breakdown of a bearish pattern, precisely the ascending wedge pattern. AMP has experienced a sustained downtrend.

Again, this looked like the development of a falling wedge pattern on the daily chart. It appeared as a bullish pattern under construction.
Once the sustained bullish price action develops, the breakout could lead to a higher spike. However, for that to develop, the price must show sustenance above the 50-day and 200-day EMA bands and a price mark of $0.00500.

Therefore, in the case of further dip, the supports of $0.00350 and $0.00280 could play significant roles. Once breached, the downtrend could extend.
However, on the flip side, if it surpasses the upper border of the wedge, with major bulls' interest. The price propulsion could attain a breakout by completing the falling wedge pattern.

Therefore, in case of a rise, the interruptions that could threaten its ascent would be present at $0.00620 and $0.00835, respectively.

Corresponding to ATOM's daily chart price, the indicators also depict a bearish trend. However, a minor change has been observed that resembles some buying input in the asset. As RSI surged above 14-SMA, bears still reigned supreme as MACD showed bears cross.