Our Amp price prediction needs it to hold the $0.02 level. At the time of writing, Amp crypto is trading at $0.022, which is close to its February 2022 lows. The price might make a lower low at any time, intensifying the selling pressure. Therefore, the $0.02 level could prove to be the final line in the sand. Bulls need to hold this level, or the price might race towards $0.01 in no time. Amp is the native asset of the Flexa payment network.
Flexa is a payment network that allows any merchants to accept cryptocurrencies securely. Merchants now don’t have to worry about failed transactions as Flexa payments are insured by Amp coin. Furthermore, users Stake Amp tokens on the platform are used as collateral for all the payments. Consequently, Amp price prediction massively depends on the adoption of the network.
According to the latest Amp news, Flexa currently boasts $621 million in Total Locked Value. This TVL mainly comes from Amp tokens that serve as collateral. Furthermore, the platform currently supports 41,336 locations across USA and Canada. It will be soon spreading to Europe and other countries as well. Via this protocol, merchants can now accept payments in any cryptocurrencies.
Technical analysis of the Amp price chart shows that the coin is battling with the Fe 2022 lows. As shown in the chart, Amp crypto started its year by breaking down the H & S pattern. The price has been trading sideways for quite a while now, but the moment of truth has finally arrived. Nevertheless, Any lower low than $0.215 would immediately take Amp price to 0.02 level, where the last battle would occur.
As explained earlier, $0.02 must hold for Amp as any breach could send it into a multi-year bear market. The price needs to break out of the downtrend for any bullish Amp price prediction. Hence a break above 200 EMA lying at 0.0365 could give it enough momentum to target the $0.061 level. This level comes by connecting the Nov 2021 high of $0.085 to the Feb 2022 low of $0.024. However, the price needs to hold at the current levels first.
This post was last modified on Apr 15, 2022, 07:46 BST 07:46