AMP Price Prediction: Why Bears are Likely to Win

Summary:

AMP price has trended downwards for months. In 2022, the crypto has lost 75 percent of its value and the bears are likely to continue.

In today’s trading session, AMP price is down by 3%. The drop comes amidst a three consecutive bull run that saw the price increase by 11percent.

AMP Price History

The past few months have been very rough for AMP crypto. It has trended bearishly for most of the time. In the month of May, for instance, AMP has dropped by 36 per cent. This is an extension of months of the bearish trend that has also seen AMP drop by 75 per cent since the year started.

On June 16, 2021, the price of AMP hit its all-time high when it traded at $0.12. Almost a year since then, the prices have dropped by 89 per cent to currently trade at $0.012. Therefore, it is evident that, for almost a year, AMP prices have been in an aggressive price drop. The price history also shows that since its peak, AMP has continuously lost its market share and is currently ranked as the 87th largest crypto.

AMP Price Prediction

The prices are down by 3 per cent in today’s trading session. The drop follows a three consecutive day bull run. However, the daily chart below shows that AMP has been aggressively bearish for months. Despite showing signs of recovery in the past few weeks, the prices have failed to break to the upside in numerous instances.

Currently trading at $0.0121, the current drop in AMP price may be a sign that the bearish trend is resuming. Therefore, my AMP price prediction expects the prices to continue dropping. I anticipate that today’s session will likely close lower than the current price. I also expect the prices to continue trading lower in the subsequent sessions.

However, if the price reverses and closes above today’s opening price of $0.0126, then may analysis will be invalidated. It will also mean a likely bullish move. Should that happen, it will also extend the current consecutive bull trend to four days. The prices may also break the $1.4 should it close above that price level.