Amo (AMP) may become a new favorite of investors as the cryptocurrency showed phenomenal performance in the past week. While most of the top hundred cryptocurrencies were crashing, Amp coin skyrocketed 118% in the weekly timeframe. Amp has established a new all-time high at its current price of $0.082. the price has increased by 40% in the past day while the daily trading volume has jumped up by 600%. Amp has now become the thirty-first largest cryptocurrency in terms of market capitalization.
Amp (AMP) Technical Analysis
The market sentiment for Amp crypto is strongly bullish. Out of the total twenty-six technical indicators, sixteen are giving out a signal of buy while nine stands at a neutral position and only one indication signal towards sell. The oscillators are neutral while the moving averages are strongly bullish.
Amp crypto has been identified to be operating on a strong uptrend. The cryptocurrency had started gaining in March while it stayed immune to the bulls of the market during the first two months of the year. Once Amp coin picked up the pace, it has been growing at an incredible pace. Amp crypto has been achieving higher highs and establishing new all-time high throughout the period. The strong uptrend of the cryptocurrency is expected to continue in the coming days.
What is Amp?
Amp is a token based on the Ethereum blockchain. The digital asset token collaterize payments on Flexa Network. Flexa Network allow vendors to use crypto as collateral for payments made in cryptocurrencies. Amp coin is used to collaterize payments as vendors await confirmation of crypto payment. Amp increase efficiency on the network enabling value to move quickly by solving problems like slow transaction confirmation time and price volatility. Amp coin can also pave the path towards increased adoption of cryptocurrencies as payments.