Amp Price Prediction 2024: AMP Price Analysis
What's next for Amp?
Key Takeaways
- Amp’s AMP token jumped in mid-March.
- However, it dropped after that, but there are some positive signs on the horizon.
- One price prediction says it may reach $0.04 next year.
The Amp (AMP) token experienced a stratospheric rise in March, emerging as one of the top-performing cryptocurrencies in the market. Its surge reflected a remarkable leap of over 1,000% from its lowest point in 2023, propelling its market cap. After that, though, things were less impressive and, by July 26 2024, AMP was worth about $0.0043.
However, the Ethereum (ETH)-based token looks like it might be about to awaken, as technical indicators seem to be suggesting some kind of short-term gain.
Amp did not respond to a request for comment.
Let’s take a look at our Amp price predictions, made on July 26 2024. We will also examine the AMP price history and talk a little about what AMP is and what it does.
Amp Price Prediction
Let’s examine some of the Amp price predictions CCN made on July 26, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
| Minimum AMP Price Prediction | Average AMP Price Prediction | Maximum AMP Price Prediction | |
|---|---|---|---|
| 2024 | $0.02 | $0.0260 | $0.032 |
| 2025 | $0.03 | $0.032 | $0.04 |
| 2030 | $0.03 | $0.05 | $0.06 |
Amp Price Prediction 2024
If AMP starts its next bull phase, we could expect a new yearly high by the end of 2024, as its third wave from the highest degree five-wave impulse.
Amp Price Prediction 2025
The bullish phase should continue for one more higher high in 2025 for its fifth wave to develop, surpassing its 2024 yearly high.
Amp Price Prediction 2030
Since we are expecting that the bull market in cryptocurrencies will end in 2025, the next couple of years could bring the price of AMP down by between 80% and 90%. If this happens, AMP could start its next bull market in 2028 and regain, if not exceed, the values from its previous bull phase in 2030.
Amp Price Analysis
The price of AMP surged from approximately $0.0012 in October 2023, reaching a peak of $0.024 on March 12, 2024, representing a 1,600% increase. However, it quickly declined to $0.012 later that same day, leaving a large wick on the daily chat. Since then, AMP has been trending downward forming a descending triangle.
On July 5, it fell to a low of $0.0036, which was an interaction with the 0.786 Fibonacci retracement level. Since then, we saw a 26% recovery to a high of $0.0048 on July 17, but AMP continued to slide, following the descending resistance level.
Despite the decrease, it has maintained above the 0.786 Fibonacci level and is getting close to the triangle’s apex. Technical indicators RSI and MACD on the daily chart are bullish, indicating an uptrend since July 5, which is why we could expect to see a breakout to the upside.
If this happens, AMP could embark on a journey to a new yearly high as it begins a new bullish phase after 135 days of descending price action. However, first, we need to see a breakout above the descending resistance, followed by the first higher low, confirming the starting uptrend.
Short-term Amp Price Prediction
The Amp price prediction for the next 24 hours sees the token continue its upward trajectory and make a breakout above the descending resistance, confirming a starting bullish phase. From its recent low, we saw an ascending triangle, which could be interpreted as a leading diagonal, followed by a three-wave move down.
Since the three-wave move ended on July 25, with the price recovering 9% after, there is a strong chance that this next advancement already started. However, since the price is just below the descending trendline, its surpassing will confirm this outlook.
In the case that it does, its next likely target would be at $0.0057.
Amp Average True Range (ATR): AMP Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On July 26, 2024, AMP’s ATR was 0.00032, suggesting low volatility.
Amp Relative Strength Index (RSI): Is Amp Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On July 26, 2024, the Bitcoin RSI was 42%, indicating a slightly bearish sentiment as it fell from its recent high of 52% on July 15. However, it is largely in an uptrend from July 5, when it fell to the oversold zone at 21% on the daily chart.
AMP Price Performance Comparisons
How Do We Make Our Amp Price Prediction?
Our price prediction for Amp combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the AMP-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between.
Best Days and Months to Buy Amp
We looked at Ampr’s price history and found the best and worst – times to buy AMP.
Based on the data analyzed, Wednesday is the best day to buy AMP, with the highest average return of 0.64% among the days of the week. Conversely, Friday demonstrates the worst performance, with an average of -0.20%, indicating it may not be an optimal day for purchasing JUP.
For the best months, February stands out with a significant average return of 50.83%. This suggests that historically, February has been a particularly favorable month for buying AMP as it yields the highest returns. On the other hand, August is the worst month you can buy AMP, with an average of -24.59%.
AMP Price History
| Time period | AMP price |
|---|---|
| One day ago (July 25, 2024) | $0.00415 |
| One week ago (July 19, 2024) | $0.00451 |
| One month ago (June 26, 2024) | $0.00500 |
| Three months ago (April 27, 2024) | $0.00735 |
| One year ago (July 27, 2023) | $0.00245 |
| Launch price (September 9, 2020) | $0.00943 |
| All-time high (October 13, 2023) | $0.00143 |
| All-time low (September 9, 2020) | $0.00943 |
Amp Market Cap
The market capitalization, or market cap, is the sum of the total number of a crypto in circulation multiplied by its price.
On July 26, 2024, AMP’s market cap was $182,129,834, making it the 248th-largest crypto by that metric.
Is Amp a Good Investment?
It is hard to say. The coin has dropped since peaking in March and so did for at least three years, before jumping in March 2024.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in AMP.
Will Amp go up or down?
No one can really tell right now. While the Amp crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Amp?
Before you decide whether or not to invest in Amp, you will have to do your own research, not only on AMP, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who Owns the Most Amp (AMP) Tokens?
On July 26, 2024, one wallet held more than 35% of AMP’s supply.
Richest AMP Wallet Addresses
As of July 26, 2024, the five wallets with the most AMP tokens were
- 0x706d7f8b3445d8dfc790c524e3990ef014e7c578. This wallet held 37,630,597,240 AMP, or 37.76% of the supply.
- 0x0c3a4a4416562ddccfda34e4fe681569fe60c7bd. This wallet held 9,447,763,184 AMP, or 9.48% of the supply.
- 0x780f9a570c1bec9f2dc761b9031c992cb3e2ae6e. This wallet held 7,000,000,000 AMP, or 7.02% of the supply.
- 0xafcd96e580138cfa2332c632e66308eacd45c5da. This wallet held 5,374,174,722 AMP, or 5.39% of the supply.
- 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 3,564,847,704 AMP, or 3.58% of the supply.
Amp Supply and Distribution
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 99,213,408,535 |
| Circulating supply (as of July 26, 2024) | 42,227,702,186 (42.56% of maximum supply) |
| Holder distribution | Top 10 holders owned 71.39% of supply, as of July 26, 2024 |
From the AMP Whitepaper
In its technical documentation, or whitepaper , Amp describes itself as a universal collateral token designed to facilitate fast and efficient transfers for any real-world application.
”When using Amp as collateral, transfers of value are guaranteed and can settle instantly. While the underlying asset reaches final settlement, a process that can take anywhere from seconds to days, Amp is held in escrow by a collateral manager. Once the transaction successfully settles, the Amp collateral is released and made available to collateralize another transfer. It exists to serve as universal collateral for anyone and any project,” the Amp team said.
Amp (AMP) Explained
AMP operates as a decentralized digital collateral system . The goal of the project is to enable developers to provide verifiable assurance for any application or asset transfer. As such, the network employs various proprietary technologies to decentralize the risk of asset transfers for digital and real-world use-case scenarios.
How AMP Works
AMP crypto is a digital collateral token listed on Coinbase. It focuses on reducing interchange costs and preventing fraud in payment transactions. It can ensure the value of transfers even when unconfirmed, allowing vendors to still receive payment.
Is Amp a Good Investment?
It is hard to say. The coin has dropped since peaking in March and so did for at least three years, before jumping in March 2024.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in AMP.
Will Amp go up or down?
No one can really tell right now. While the Amp crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Amp?
Before you decide whether or not to invest in Amp, you will have to do your own research, not only on AMP, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will Amp reach $1?
It seems highly unlikely to happen at any time in the medium-to-long term.
What is Amp?
AMP operates as a decentralized digital collateral system. The goal of the project is to enable developers to provide verifiable assurance for any application or asset transfer. As such, the network employs various proprietary technologies to decentralize the risk of asset transfers for digital and real-world use-case scenarios.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
