AMP Over the past intraday period, the price has risen by 12%, which has led to an increase in the market capitalization to US$327.6 million.
Despite the general sell-off occurring in Q2 2024, the price has risen 55% in the last two weeks. The influx of intraday spot volume has shown room for further gains.
During the day, its spot volume increased by a whopping 241% to continue the current trend. It also had a high liquidity present of 25.84%.
AMP Price Overview on the Web
According to research on the website On-chain IXFITransactions over $100,000 rose to $6.78 million this week. Active addresses increased from 119 to 258, leading to a sharp increase in transactions from 167 to 749 transactions.
Meanwhile, the transaction volume increased from 230.29 million. AMP to 2.16 billion AMP. This was accompanied by a constant growth and adoption of its total number of addresses, the balance of which reached 96.26 thousand addresses (at the time of printing).
Similarly, concentration of large holders meant control over 87% of tokens in circulation, with whales owning 72.22% and investors owning 14.87%.
The remaining 12.91% of the floating supply was held by retail investors, with the average token held for 8.1 months before transfer.
Most of the positions were lost due to the previous deterioration due to major sell-offs. However, in the last two weeks, a small presence of bulls has turned the market green, which has improved the situation for investors.
Exactly, by IXFI12.1K addresses were making money under the current price scenario, which was 12.45%. The majority were still in the red, which was 81.41K addresses (83.71%).
According to tokenomics, the circulating supply at press time was 80.722 billion AMP out of 99.213 billion AMP. Based on the total floating supply across the rich list, the addresses of the top 10 holders held 69.98% of the supply.
So, based on on-chain metrics, this was signaling a move north. This happened after holding above the Change of Character (CHoCH) level.
What is the next step in AMP price?
The AMP The price has been declining since March 2024, reaching a peak of $0.01690.
Lately, AMP has been forming a falling wedge pattern on the daily chart, which is usually a bullish pattern.
For this pattern to trigger a significant upward move, the AMP token must maintain its price above the 50-day and 200-day EMA levels. It must also break above $0.00500.
At the time of publication AMP The price was trading at $0.00407, showed a bullish crossover, and the RSI broke through the midline.
If the price continues to fall, key support levels to watch are $0.00350 and $0.00280. A break of these supports could lead to further declines.
And vice versa, if AMP The token price breaks above the upper boundary of the falling wedge with strong bullish momentum, it may experience a notable price increase. Potential resistance levels to watch in this scenario are $0.00620 and $0.00835.
