What Will Be The Next Move In AMP Price?

The AMP price has been on a downward trend since March 2024, following a peak at $0.01690.

Recently, AMP has been forming what appears to be a falling wedge on the daily chart, which is typically a bullish pattern. For this pattern to trigger a significant upward movement, AMP needs to sustain its price above both the 50-day and 200-day EMA levels and surpass the $0.00500 mark.

At press time, AMP last traded at $0.00407 and showed a bullish cross, and RSI pierced the median line.

If the price continues to fall, key support levels to watch are $0.00350 and $0.00280. A breach of these supports could lead to further declines.

Conversely, if AMP manages to break above the falling wedge's upper boundary with strong bullish momentum, it could experience a notable price increase. Potential resistance levels to watch in this scenario are $0.00620 and $0.00835.