Amp price has increased in the last four consecutive trading sessions. This has seen the cryptocurrency rise by seven per cent during that period. The recent rise in the price of the AMP token is not surprising. The recent trading volume data shows a jump of over 50 per cent in the last 24 hours. The data also shows that during the 24 hours, 41 million worth of AMP was traded.
This is a huge improvement for the cryptocurrency, which has struggled in the past few months, dropping from highs of over 0.1 in June 2021 to the current price of $0.028. The cryptocurrency market cap has also greatly improved in the past few days, bringing the total to over $1.9 billion. This makes AMP the 84 largest cryptocurrencies by market capitalization.
In my March 23 analysis of AMP, I indicated that the prices were likely to hit the $0.028 resistant level. This was after seeing the prices bouncing off from the same resistance level. Today, the prices of AMP hit the $0.024 resistance level. The Amp prices also broke out of the resistance level, and the current prices show a gain of almost two per cent in the markets.
Looking at the daily chart below, we can see the Williams alligator showing signs of a price reversal to the upside. The alligator lines are also starting to spread out, indicating increasing volatility in the market. Therefore, there is a high chance that the current prices are trading in a bullish market.
The breakout confirms the observation of a bullish market from the resistance level structure. Therefore, my AMP price prediction is that I expect the current bullish trend to continue. I also expect the prices to hit the $0.030 psychological level. This milestone will likely be followed by another push to the upside, where the prices will trade above $0.03 in the coming days, weeks and months.
This post was last modified on Apr 04, 2022, 17:06 BST 17:06