- AMP to continue its ascent if it cements its status above the $0.009176 level.
- Despite AMP’s active addresses hitting new highs since May, 72% of the holders still in loss.
As a seasoned analyst with years of experience navigating the volatile cryptocurrency market, I can confidently say that AMP’s current trajectory is promising. The breakthrough above the $0.009176 level and the bullish LuxAlgo Market Structure Breaks signal suggest that we might be on the brink of a sustained upward movement.
In the past 24 hours leading up to now, AMP crypto (AMP) experienced a substantial increase in price by over 30%. This impressive growth was mirrored in its trading volume, which surged significantly, increasing approximately five times, according to CoinMarketCap.
As a researcher, I observed that the value of AMP surpassed a significant resistance point at $0.009176, suggesting robust purchasing enthusiasm and a possible transition towards bullish control in the market.
This advancement occurred concurrently with a distinct LuxAlgo Market Structure Signal shifting positively, suggesting that the daily chart structure of AMP has moved from negative (bearish) to positive (bullish).
For AMP, this could be a significant turning point, indicating potential continued growth ahead if the price consistently remains above this particular level.
The MACD chart lent additional confirmation to the positive perspective. Specifically, the MACD line clearly surpassed the signal line, indicating a strengthening bullish trend. Moreover, the histogram showed an increase in bullish momentum, which was further highlighted by the bars extending more extensively above the zero line.
Additionally, the latest surge in value brings AMP’s market capitalization nearer to $1 Billion, positioning it as a potential future focus if it maintains its position above $0.009176.
Given the present trend and public opinion about the market, it seems quite possible that we might see even greater price levels ahead, which could result in a repeat of past highs or possibly establish new record prices.
Active addresses reach new highs
As a crypto investor, I’ve been closely monitoring the activity surrounding AMP, and the recent uptick in active addresses is quite striking. It’s been a while since we last saw such high levels of engagement, reminiscent of early May.
The growth in active addresses was closely linked with a significant surge in AMP’s value, implying a higher level of market engagement and potentially speculative behavior.
Lately, we’ve seen an increase in active addresses, coinciding with rising prices, suggesting strong involvement from both traders and investors. This surge might stem from recent advancements or enhanced utility within the network.
This development served as an optimistic indicator for the AMP ecosystem, demonstrating increasing user engagement and curiosity.
Active AMP holders profitability
Examining the count of active wallets revealed that approximately 71.76% or 366 wallets were “underwater,” indicating their negative returns, which underscores the volatile characteristics of AMP and the extended period it has been in a downtrend. However, the resilience of its holders is evident as they have continued to maintain their positions despite the prolonged drawdown.
Approximately 23.73% of AMP holders, when considering their current position relative to what they initially paid, are currently making a profit from their investments, representing a total of 121 different addresses.
To add, approximately 4.51%, or 23 specific locations, were “at market price,” meaning the buying cost was nearly equal to the current AMP value of $0.007139.
It seems that this distribution indicates a rise in active wallets starting from early May, yet the majority of holders are experiencing losses. Such losses could potentially influence the overall outlook and future trading patterns.
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2024-11-29 22:15