Why Is AMP Price Pumping? Bulls Not Slowing Down as they Form Formidable Support at This Level
AMP, the collateral token designed to provide instant verification for value transfers, has seen its price surge over 45% recently. The cryptocurrency currently trades around $0.0037, up from under $0.003 just days ago. This rapid move has left many investors wondering—what’s behind this latest AMP pump?
Formidable Support Forming
According to noted crypto analyst bitpeaks, AMP bids are currently 23% higher than asks at the $0.003637 level. This indicates strong buying interest and suggests the formation of formidable support around this price.
As bitpeaks observes, this makes the current level an attractive entry point for those looking to buy into the rally. With buyers outweighing sellers, AMP seems poised to hold support here for the time being.
Bullish Signs Emerge
Meanwhile, influential Twitter account Triangle_Boy points out an even more optimistic setup taking shape. He notes that AMP displays a “Flat top forming supported by a Diagonal Rolling” pattern on higher timeframes.
This rare combination of indicators leads him to believe investors have “last days to load up before a Penny!” Essentially, he expects this bullish confluence of technical factors to propel AMP to $0.01 in short order.
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Between the surge in momentum, overwhelmingly bullish order book activity, and positive chart patterns, AMP exhibits multiple signals that this rally has room to run. With buyers confidently bidding the price up as bears fail to gain traction, the pumps show no signs of relenting yet. Both analysts and chart patterns suggest ominous winds for anyone brave enough to fade this move.
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