AMP Technical Analysis: Early Bearish Reversal Within Falling Channel

AMP coin price shows an early bearish reversal within the falling channel resulting in a 5% fall. Should you keep holding for a jump to utmost resistance? Key technical points: AMP prices fail to reach the 50-day EMA. The RSI slope shows a sharp reversal from the halfway mark. The 24-hour trading volume of AMP is $57.46 Million, marking a 162% rise. Past Performance of AMP AMP coin price showcased a bullish reversal from the support trendline of the falling channel pattern resulting in a 13% growth in three days. However, the buyers fail to sustain the uptrend and reach the 50-day EMA due to the sudden increase in selling pressure. The downfall comes as a post-retest reversal of the $0.024 mark and undermines the bullish candle formed yesterday. Source-Tradingview AMP Technical Analysis AMP coin price action projects a downtrend continuation as the sellers overtake the trend control and warn the support trendline fallout. However, the downtrend will need to surpass the $0.020 low to crack the falling channel. The falling trend in the EMAs persists in the bearish alignment with the 50-day EMA providing dynamic resistance to the bullish reversal. RSI Indicator: The RSI slope skyrocketed to the central line, indicating the aggressive buying in the market. However, the indicator reflects a sharp reversal and fails to surpass the 50% line. MACD Indicator: The MACD and signal lines bullish crossover offers a buy signal for the inter...