AMP Crypto Price has fallen this year and a bear market started, in which the performance of most altcoins is reflected.
AMP (AMP) fell to $ 0.0033 on Tuesday, with more than 77% of the highest level in November last year. The market capitalization today assumed more than $ 965 million to $ 283 million.
A potential reason why AMP has fallen is that the total value that has been locked on Flexa has been in a free fall this year. It has drop Up to $ 20.8 million, a decrease of the year to date of $ 295 million.
Activity on the Flexa network is crucial for AMP, because token offers the collateral mechanism that the platform is the basis. Flexa is a payment network that integrates with Point-of-Sale systems so that sellers can accept crypto. Companies such as Chipotle, Gamestop and Ulta Beauty are among those who use it.
AMP serves as collateral to guarantee payments. If a transaction fails or lasts too long to settle, Stuted -AMT -Tokens can be liquidated to ensure that traders receive money immediately.
On the positive side, data on chains suggest that whales still collect reinforcement sticks, possibly on a rebound gambling. Addresses that are between 10 million and 100 million ampere, now check 10.97 billion tokens, an increase of 9.95 billion in February, according to Santiment.
Additional data from Nansen show that the range of AMP tokens at fairs has fallen by more than 43% in the last 90 days. This is usually seen as a bullish board, which indicates that investors transfer to private portfolios instead of preparing for selling.
AMP crypto price forecast
The daily graph shows that AMP has formed a double bottom pattern for $ 0.00306, a bullish setup in technical analysis.
In the meantime, the relative strength -index has returned from an over -sold lecture from 28 in June to the current 44. The progressive average convergence disgestion -indicator has also flashed a Bullish Crossover.
These indicators suggest a potential bullish reversal. If the momentum continues, the next goal can be $ 0.00573, the Swing High from 14 May, which would represent a profit of around 70% compared to current levels. However, a drop under support for $ 0.0030 would make the bullish thesis invalid.
