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The decentralized protocol Amp (AMP) is impressively resilient in today’s bearish market, evoking a mix of emotions among traders and investors – both fear and attraction.
While this resilience raises concerns for specific traders, it also draws the focus of investors who see its potential to retain or increase value in the upcoming week.
Despite lacking recent protocol developments, Amp’s possible distinctive features or robust support level at $0.00240 may contribute to its perceived reliability.
So, can AMP resist and stay strong amidst this market downturn? Keep reading to find out!
AMP Upholds Market Price at $0.00244 – Up or Down, What’s Next?
Amp (AMP) lost 5.1% seven days ago after gaining 21.7% in the last 30 days. This dip could be attributed to the drop in active addresses, from 1130 to 880, recorded on Santiment as of August 4, 2023.
Today August 11, at 8:37 am EST, AMP plunged further by 2%, with the 24-hour trading volume also down by 58.25% at $9.3 million.
Despite this troubling market condition, the asset still holds its price within the $0.0024 level and is trading at $0.002249 in the last 24 hours. This resilience raises speculations that AMP could go up in the coming week and remain down this weekend.
AMP/USD Daily Chart
In the chart above, AMP trades between the 50-Day and 200-Day Simple Moving Averages.
The long-term moving average (200-Day SMA) above AMP’s price indicates an overall bearish market trend, while the short-term (50-Day SMA) below the price shows the possibility for a bullish market outcome in a short period.
Considering this mixed market sentiment, AMP is likely in a consolidation phase, meaning it’s neither in a strong uptrend nor a strong downtrend.
The asset’s Moving Average Convergence Divergence (MACD) indicator is below the signal line and has a bold red histogram bar. This shows that AMP has been bearish with a strong negative momentum today.
According to the chart above, a red candlestick has formed after the last green candle, indicating increased selling activities today. Again, AMP’s Relative Strength Index (RSI) is at 53.88, slightly moving down.
This shows that the coin’s market is neutral, but increasing selling pressure pulls it to the oversold region (below 30), suggesting a potential price decline in the coming days.
Despite this market downturn, the 50-Day SMA supports (lower side), offering a more robust backup at $0.00240. If AMP approaches this level, traders and investors may jump and buy more coin units, triggering a rebound by the following week.
Meanwhile, given the coin’s resistance at $0.002581, AMP will likely experience several rallies within the coming week.
While AMP is building fear and Traction simultaneously, investors looking for short-term high-reward investment alternatives may consider the AI crypto-powered ecosystem, yPredict.
All-in-One AI Ecosystem Boasts Over 20,000 Investors on the Waiting List
The rate at which investors and crypto enthusiasts participate in yPredict’s presale campaign is tremendous. Since the presale commenced, more than 20,000 users have joined the Early Investors waiting lists ahead of the project listing coming soon.
🔍 Unraveling Token Allocations & Project Commitment: The #yPredict Insight 💡🚀
Diving into the dynamic world of blockchain and crypto, yPredict's unique tokenomics and ethos recently took the spotlight. Let's navigate through this captivating journey! 🧵
🔑 The Token Story:… pic.twitter.com/9CfnT5BpDT
— yPredict.ai (@yPredict_ai) August 9, 2023
This will enable them to explore and make the most of the yPredict platform before every other investor once the platform is released.
As an all-in-one AI ecosystem, yPredict comprises cutting-edge features that provide analysts, traders, quants, and developers with more profound insights into related industries and markets.
Besides the revolutionary features of this project, yPredict comprises lucrative reward patterns to create income streams for its users.
It offers huge discounts and lifetime free predictions to help users explore market analytics across various industries at affordable and accessible costs.
yPredict (YPRED) Set to Outshine Other Presale Tokens with Over $3.4 Million Raised
yPredict (YPRED) has raised over $3.4 million out of the $4.5 million soft cap indicated on the presale widget. This shows that the increased amount is approaching the project’s initial valuation, meaning that the presale’s conclusion could be within reach.
Notwithstanding, YPRED is still selling at $0.1, representing stage 7 of the presale. By the following two stages left, YPRED will increase to $0.11 and $0.12 and list on exchanges in the last stage.
Considering the high community support backing the project, yPredict (YPRED) could outshine several coins, shooting up by 10x or 100x in the future.
So, for those interested in this project, navigate to the website and swap your USDT, ETH, BNB, or MATIC for $YPRED. Alternatively, you can pay with your bank card and be part of this high-growth potential project.
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