As is often the case with listing announcements on major exchanges, the introduction of AMP on Binance made inflate the price of crypto by over 30% in less than 24 hours.
AMP crypto is recovering from a week of correction after recording an 18% drop in weekly. An orchestrated rebound in a day when the overall performance of the cryptocurrency market was rather mixed.
A listing is the kind of announcement that can help a cryptocurrency out of the abyss of the downside. For example, Japanese bitcoin, “Jasmy Coin” exploded after its listing on Binance. The same situation had happened with POWR and QI.
Traders hope Binance replicates Coinbase
5 months ago, Coinbase had launched AMP on its trading platform. Within 3 months of listing, Flexa’s cryptocurrency price had risen 90%. It was even a few spots away from reaching the top 20. The introduction of AMP on the US exchange had a significant effect on its value even as the market raged under the yoke of the post-May crash.
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Powered by its listing on Coinbase, AMP Crypto is driving counters crazy
In a note to its investors, the world’s largest crypto exchange announces the listing of amp and PlayDapp. We can read:
Binance will list Amp (AMP) and PlayDapp (PLA) and open trading in AMP / BTC, AMP / BNB, AMP / BUSD, AMP / USDT, PLA / BTC, PLA / BNB, PLA / BUSD, and PLA / USDT pairs at 2021-11-23 06:00 (UTC).
Those who like the reproduction of facts will bet that the crypto replicates the same performance with its listing on Binance. Traders will rely on the argument of the market size of and the popularity of the broker. All the more so, the recent projects listed on Binance have been a hit on the stock market.
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+ 30% in 24 hours: How to take advantage of the AMP rally?
Graph in 4h data. AMP / USD price
At the time of writing this article, AMP price is down 0.61% on a 4h basis. He made a wick towards $ 0.072 after this intraday rally. This is actually one of its best performances since June after appearing on Coinbase. The crypto still remains at -42.9% of its June 16 ATH. AMP optimists will say it will cross its ATH during this new bullish move.
On the demand side, there is a lot of pressure since it has been observed in intraday that the trading volume is up 955%. This shows the appetite of investors for AMP. The hypothesis of a retracement is quite plausible before an upward recovery. Although at the graphical level, the three indicators give us a very good buy signal.
- Choppiness Index => 19.89 (below entry cap of 38.2)
- Relative Strength Index => 78.76 (above the threshold of 60)
- Average Directional Index => 22.53 (above the threshold of 20)
However, if you are an intraday trader, the best thing is to wait for the retracement and then open your position. Because, it is possible that the course is corrected. But, given that the cryptocurrency is not yet available to trade on Binance at the time of this writing, there is a possibility that it will continue to rise after the first few hours at the exchange room before correcting itself. . Make your decision according to when you will have to read this text because AMP will be available at 6:00 UTC or 7:00 AM (Paris time).