![]() With price action moving in a negative consolidation, hitting fresh lows with each week, the outlook doesn’t seem positive in the short run. Besides these latest price actions, AMP has been a total loss for buyers who took advantage of dips to make entry and hold. Similarly, the MACD indicator is moving towards the positive axis with a bullish crossover caused by a decent price gain in three days. Since hitting its recent lows in June 2022, the AMP token has improved its buying sentiment indicator as RSI has now entered neutral territory. Each breakout attempt is taken as an opportunity to book profits and reduce holdings. The outlook since a decline in May 2022 has remained negative, with prices not being able to break out of consolidation and a negative trend line. Outlook turns out to be negative in the short term, but the long-term outlook is fairly positive as it holds tremendous gains compared to 2020 lows.ĪMP token has witnessed a groundbreaking realization that is going to negatively affect AMP price action. The issues brought forth by SEC projects AMP as security, and since they are accused of insider trading, the token has been delisted by a majority of exchanges. AMP has lost a significant market capitalization, now having a value above $352 million despite just 42% of tokens under regular circulations. This process enables more secure smart contracts and allows for consistent growth. The Flexa payments network developed AMP as a method of collateralizing and verifiable assurances that would allow other payments networks such as Flexa to secure transactions before working on them.
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