• Amp token’s price has been rising steadily, with a 121% increase since last year.
• On-chain metrics show that the number of people using and holding Amp is relatively negligible.
• New York prosecutors have recently sued CoinEx, citing tokens like Amp, Luna, and RLY as securities.
Amp Price Prediction
Amp token’s price has been on the rise in recent days, increasing by more than 121% from its lowest level last year. On-chain metrics show that the number of people using and holding Amp is relatively negligible. This could explain why its price is continuing to rise even without any major news related to it.
NY Prosecutors Sue CoinEx
New York’s attorney general recently announced that they are suing CoinEx for offering securities in their platform such as tokens like Amp, Luna, and RLY. The statement also said that these tokens represent investments of money in common enterprises with profits to be derived primarily from the efforts of others.
Analysis of Daily Chart
The daily chart shows that Amp crypto price has made a strong recovery in the past few days. It has managed to move above the key resistance level at $0.0059, which was the highest point on January 17th. The coin has also jumped above the psychological level at $0.0050 while oscillators like the Relative Strength Index (RSI) and MACD have kept rising due to high volume activity happening around it. Therefore, analysts suggest that there may be more upside potential for this coin if these conditions continue to hold up in the near future with a potential next target being around $0.008 mark if we cross over this resistance point successfully again in future trading sessions..
Analysis of 4H Chart
The four-hour chart reveals that Amp prices have been trending positively since crossing several levels including resistance points at 0$0$.0053 and 0$0$.0059 respectively which were both reached previously on February 8th and January 7th respectively too . Oscillators such as RSI & MACD are still pointing upwards indicating further bullish momentum albeit slightly lower than what we previously saw on our daily chart timeline mentioned earlier before this section .
Conclusion
Overall , given all technical analysis presented here , it appears likely that amp prices will continue rising higher so long as support holds true near our previous identified areas such as 0$0$.0060 or below . However , it is important to take into account any new fundamental developments or external factors surrounding this specific crypto asset before making any definitive investing decisions .
