Amp Price Prediction: Is There Hope For AMP After Year-Long Slide?

Updated: 24 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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AMP, among the worst performers in the past year with a 71% slide, has remained relatively flat in the last 24 hours.

It hit an all-time low of $0.0018 on June 20 and is down 20% in the past two weeks.

In the last 24 hours, AMP has traded between $0.0019 and $0.0020.

AMP Remains Flat After 20% Plunge in Two Weeks

AMP’s price has been on a steady decline in the last 30 days, and if bears take control of the price action, a new all-time low might be on the way.

The token started a strong uptrend earlier this month. The price gained from $0.0022 on July 31 to $0.0028 by August 2, marking a monthly high.

However, AMP has failed to sustain the bullish trend and is now shedding all the gains made at the time.

The uncertain conditions across the broader market influenced by Bitcoin’s weak price action might result in more dips for AMP.

AMP Likely to Create New All-Time Low

(Source: Tradingview)

AMP might create a new all-time low if buyers fail to show up and show strong support for the token.

The Relative Strength Index (RSI) at 35 shows selling activity. The RSI line is also relatively flat, indicating that selling pressure has eased, but buyers hesitate to jump in.

The primary support currently lies at $0.0019, and the upper resistance at $0.0026.

For a bullish reversal to be created, AMP must break past the 50-day simple moving average (SMA) of $0.00224 and the 100-day SMA of $0.00228.

With the broader crypto market trading in the green today, AMP may record gains in the short term.

Ampera Testnet Could Drive Gains

The AMP token may recover with the scheduled Ampera testnet launch.

With developers and users seeking scalability, the Ampera Foundation plans to use the testnet to improve its offerings.

Excited to announce that the Ampera testnet is LIVE. We're starting with a select group of community testers for now and look forward to scaling. pic.twitter.com/IXSFtwtZAp

— Ampera (@ampera_xyz) August 18, 2023

The Ampera Foundation was created to focus on the growth of the AMP ecosystem.

The organization operates as a fully independent entity and is a not-for-profit firm.

The organization obtained an initial donation of AMP tokens from the Flexa Network.

yPredict Presale is Selling Out Fast – Don’t Miss Potential Returns

Presales are usually a great way to diversify a crypto investment portfolio. The yPredict presale is selling out fast, with more than $3.5 million raised.

The yPredict presale is in stage 7, where 1 YPRED token is trading at $0.1.