• Amp price rose to a high of $0.0067, the highest point since September 11 last year
• On-chain metrics show that the number of people using and holding Amp was relatively negligible
• New York’s attorney general recently sued CoinEx, citing tokens like Amp, Luna, and RLY
Amp Price Prediction
The Amp token price has experienced bullish momentum in recent days, with its highest point since September 11th last year reaching $0.0067. Despite this jump in price, on-chain metrics reveal that there are relatively few people using or holding onto their Amp tokens.
CoinEx Lawsuit
New York’s attorney general recently filed a lawsuit against CoinEx which cited tokens like Amp, Luna and RLY as securities under the Martin Act. The suit alleges that these tokens represent investments of money in common enterprises with profits to be derived primarily from the efforts of others.
Daily Chart Analysis
Analysis of the daily chart shows that Amp has managed to move above key resistance levels at $0.0059 and $0.0050 respectively. Additionally, oscillators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have seen an upward trend in line with increased trading volumes. This may indicate further gains for Amp token prices ahead.
Four Hour Chart Analysis
On a four hour chart basis, we can see that the amp price has crossed multiple resistance points including $0.0053 and 0$.0059 which were recorded on February 8th and January 7th respectively. This indicates further bullish momentum for Ampl token prices ahead if support at $0.0060 holds firm going forward in time.
Conclusion
Overall, technical analysis suggests that there could be more upside potential for the price of Ampl tokens in the near future providing support at $0
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