Popular cryptocurrencies like Bitcoin and Ethereum have a lack of scalability and slow transaction issues, and you just need to spend more time on one transaction. The price is volatile, which means the value can fluctuate significantly in the process.
AMP comes with the solution. It is a digital token that secures the value of the transfer. Many corporate houses use AMP to make secure and quick payments with digital assets and currencies. You can use it as collateral for digital and physical products/assets. It differs from Lightning Network in many aspects. The Lighting Network mainly solves the scalability issues of Bitcoin. But AMP solves the scalability and low transaction rates of cryptocurrencies.
If you want to invest in them, buying AMP is very easy. You need to open an account on your favorite crypto exchange and transfer, swap, and trade the token. However, before that, let’s analyze the price chart of AMP/USD.
At the time of writing this technical analysis, the AMP token is trading at a price of $0.03. If you watch this chart very closely, you can find $0.43 is a strong support level for this coin. However, it broke the level in the last month, and now, the AMP coin is trading at a lower price below the support level.
Interestingly, on the daily chart, MACD is bullish, RSI is around 45. The popular combination of MACD+RSI shows bullishness. The Bollinger Band lacks volatility, and the candlesticks are forming around the baseline of the BB.
It is hard to tell which way the price will go in the next couple of months. Some of the indicators are bullish, some of them are bearish. If it breaks the $0.03 level, then it is hard to tell the next support level. According to AMP crypto price prediction, it is not recommended a long-term investment in this token as of now. We think the short-term trader or investor should stay away from this crypto for a few days.
The crypto market will be volatile until the middle of this year due to several reasons. Indeed, AMP has the potential to thrive in the crypto market, but it has not been reflected on the chart yet. That is why we do not recommend it for long-term holding. However, if you have the fundamental knowledge and you trust this token, it can be a big opportunity to accumulate this coin.