The AMP price has been trading with almost no volatility in the past few weeks. This has created a sideways market that looks poised to continue for the foreseeable future.
The AMP price has also not lately been impacted by fundamental news in the past few weeks. This may explain why the AMP prices have remained calm in the market. However, there have been speculations that, when sanctions imposed on Russia start to bite, AMP-USD may become one of the cryptocurrencies Russians will turn to as a hedge for their falling currency.
The AMP price has been trading in a range market since February 20, where it has made several attempts to break out of the support and resistance levels of $0.024 and $0.028 respectively. The past few days have also seen cryptocurrency trading at very low volatility. This has meant that the prices have remained relatively stable, with each trading session gaining or losing a very small per cent of AMP value.
In today’s trading session, the AMP low volatility rate is continuing. The prices have failed to move and AMP is trading at almost the same spot it opened today’s trading session. However, today’s trading session has gained a few points nonetheless. This will mean that if the gains hold, it will be a third consecutive day that AMP is gaining.
Looking at the daily chart below, we can see that the prices have traded within the support and resistance levels of $0.024 and 0.028 for the past few weeks. We can also see the William Alligator technical indicator lines starting to crisis cross. These two technical analysis factors can help us determine where we expect the AMP prices to trade in the future.
The crimping together of the Williams alligator lines means there is no volatility in the market. Therefore, we should expect the prices to continue trading within the support and resistance levels in the next few days. However, the sideways market is likely to break to the upside based on the fact that prices have failed to break support levels and set new price-lows after numerous attempts.
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