Amp token has corrected 92.87% from it’s all time high of $0.123 which was set on the 16th of June 2021 on the Coinbase exchange. The capitulation has been so fierce it seems many have now forgotten about this project.
Presently, the cryptocurrency markets are characterized with bearish sentiment. The psychological journey for investors remains at the extreme fear stage of the market cycle. Global search volume is on a rapid decline and mainstream media outlets are also projecting that crypto is dead (once again).
Little do most investors know that they are missing out on an undervaluation and accumulation opportunity of a lifetime.
Amp token is now trading at $0.0088, prices of which were seen back in the bear markets of 2020 before Amp token initiated in a parabolic resulting in roughly 2,200% return on investment.
Cryptoassets are a highly volatile unregulated investment product.
AMP Token Price Prediction
The Amp token has been declining since June 2021. The charts show that it has recorded 12 straight red candles recently. Last week, the Amp token managed to produce one green weekly doji candle. However, it looks like we will end this week back in the red.
On the 18th June following Bitcoin crossing the 200-week moving average Amp token found support at $0.00789. Since then, the price has increased over 11% and Amp token now trades in a descending channel pattern (typically bearish).
AMP Token Price Chart – 4-hour Time Frame
During the last week, Amp token has been rejected multiple times at the resistance trendline. It seems we are now consolidating around the $0.0088 level at the support trendline.
If Amp token can hold this support level, we should potentially see another swing-high back to the resistance trendline of the descending channel. Of course, we can still lose support back down to around $0.0086.
With bullish continuation and a breakout confirmed with healthy volume Amp token should be able to reach the technical target of around $0.0097.
This would highly depend on the trajectory of Bitcoin and whether the market can achieve a sustained relief rally.
AMP Token Video Analysis
Amp token currently provides new holders with a much healthier entry price. We are no longer overvalued and euphoric which means the downside risk is minimized. The previous $0.012 all-time high was through the peak of the bull market which was over extended during the extreme greed phase of a market cycle.
According to Coinmarketcap Amp token is rank #86 amongst all other cryptocurrency projects. The current market capital is just $374 million which leaves room for a tremendous amount of growth.
During the peak of the previous crypto bull run Amp token had achieved a market capital exceeding $4.5 billion. I am very keen to see how Amp token performs following the next Bitcoin halving event.
What is AMP Token?
Amp token is best described as the all new digital collateral token. This offers instant and verifiable assurances for any kind of value transfer. For instance, with the use of Amp, networks such as Flexa can speedily and irreversibly secure many transactions for a wide variety of asset-related use cases.
A good use case example for Amp is when Bitcoin or Ethereum payments fail due to unconfirmed or delayed transactions times. The Amp collateral will be liquidated to cover any losses. This means the vendor receives payment in fiat. The result of this is that both parties receive greater assurances.
With enough traction and exciting protocol upgrades I think Amp token will once again thrive in future crypto bull markets. I would expect to see Amp token repossess its previous all time high by 2024-2025 with enough accumulation from whales and retail investors.
If you would like to keep up to date with the latest news and insights from Business2Community, don’t forget to join our new Telegram Group.
Cryptoassets are a highly volatile unregulated investment product.
Related
- Best Altcoin Exchange 2022 – Cheapest Altcoin Trading Platforms
- Bitcoin Price Prediction 2025 – 2030
- Best Crypto To Buy Now
- Best Crypto Presales
- New Cryptocurrencies to Invest in 2025
Lucky Block - Undervalued Crypto
- Listed on Gate.io, LBank, MEXC, PancakeSwap
- NFT Competitions, Jackpot Draws
- Powers Casino & Sportsbook Platform - luckyblock.com
- 10,000 NFTs Minted
- $2M+ in Prizes Awarded