Amp (AMP) is one of the most active cryptocurrencies that stormed the crypto world this year. To be specific, the crypto achieved an all-time-high price of $0.121 last June 16, 2021. This fantastic performance of AMP enables the network to attract crypto investors worldwide. Its investors have lost 83.3% of their investment in the past year.
Furthermore, aside from its aggressive performance this year, AMP enables its users to earn more AMP tokens. In particular, the network rewards its users with AMP tokens by simply allowing seeding after every torrent file download. All the reward tokens earned from the torrent file seeding will automatically be stored in the user’s wallet.
What is Amp Token (AMP)?
Amp is explained as the new digital collateral token providing instant, verifiable assurances for any value transfer. Moreover, AMP networks like Flexa can quickly and irreversibly secure transactions for multiple types of asset-related use cases.
Moreover, AMP claims to provide a straightforward but versatile interface for verifiable collateralization via a system of collateral partitions and collateral managers. Even more, the collateral partitions could be designated to collateralize any account, application, or even transaction and carry balances that are directly verifiable on the blockchain of Ethereum.
Collateral managers are smart contracts that could be locked, released, and redirected collateral in the partitions as required to support value transfer activities.
Furthermore, Amp supports a vast range of use cases for collateralization and also introduces the concept of predefined partition strategies, which could enable exceptional capabilities like collateral models through which tokens can be staked without ever leaving their original address.
Amp Current Market Status
AMP remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the AMP is $0.0093. Notably, AMP recorded a decreased rate of almost 1.95% in the last 24 hours.
Regarding its market standing, AMP’s market capitalization amounts to almost $393,124,657, with a 24-hour trading volume of over $5,904,670. As a result, the crypto ranks as one of the top 85 cryptocurrencies in CoinMarketCap. With all these achievements, AMP has come a long way in developing its technology throughout the years.
Is AMP a good investment this 2022?
So far, AMP has been defending its market position well against the bearish market wild volatility. Is it enough to convince the global investors that AMP can rise and be a profitable crypto this year?
Keltner channel is a technical analysis indicator used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for Amp (AMP), it could be seen that the last candlestick is within the first half of the curve from the bottom. There could be a possible breakout of the price of AMP.
The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes to deduce oversold or overbought assets. The RSI value of Amp (AMP) 4H chart of AMPUSDT above is at 40.06, which indicates a neutral trend since it lies between 30 and 50. If this value continues to rise, AMP could experience a breakout above the 50 mark region, which indicates a vital trend region. However, there could be a bearish run since it has turned dip.
From the 90 days and 30 days moving averages for Amp (AMP), it could be seen that AMP would go bullish in the long-term since the 90-day moving average is above the 30-day moving average. Hence, long-term investors should be patient with AMP developers in the long run to change the direction of their price movement.
Amp Digital Token 2022
The AMP price shows a bullish trend. If this trend continues, AMP might run along with the bulls, overtaking its $0.0120 resistance1 level and moving higher to $0.0718 at resistance8, the bullish signal for 2022.
Conversely, if the investors turn towards the crypto, the bears might take over and push AMP from its uptrend position. In simpler terms, the price of AMP might plummet to almost $0.0067 and even lower, the bearish signal for 2022.
Meanwhile, the long-term AMP price prediction for 2022 is bullish, and it has a high possibility of reaching new heights. However, that will only happen if it breaks many past psychological resistances.
If this bullish trend continues, AMP will reach $0.0718 by 2022. Moreover, the first half of 2022 will show fast growth, up to $0.0120. Then this rise will slow down, but no significant falls are expected. With upcoming partnerships and developments, reaching $0.1 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.