What Is AMP Token And Where Might It Be Headed?

AMP Token (CRYPTO: AMP) is a new cryptocurrency that was just picked up by Coinbase Global Inc. (NASDAQ: COIN).

AMP Token is a new digital collateral token that offers instant verifiable assurances for any kind of value transfer. More can be read about what the Ethereum (CRYPTO: ETH)-based token can do here, on the company frequently asked questions page.

AMP Token was up 11.8% at $0.10621 at last check.

AMP Token 15-Minute Chart Analysis

• The crypto was recently able to break out of an ascending triangle pattern and is now looking to test old resistance as support.
• The crypto is trading above both the 50-period moving average (green), and the 200-period moving average (blue), indicating recent sentiment in the crypto has been bullish.
• Each of these moving averages may hold as support on the 15-minute chart.

Key AMP Token Levels To Watch

• The crypto recently broke out of the ascending triangle and is now looking to bounce where resistance used to be.
• The 10-cent level is an area where the crypto found resistance and struggled to cross above for a time.
• The higher low trendline is another place on the chart that may hold as an area of support.

What’s Next For AMP Token?

Bullish technical traders would like to see AMP Token stay above the higher low trendline and continue to move upward. Bulls would also like to see the crypto stay above the moving averages.

Bearish technical traders would like to see the token fall back below the 10-cent level and hold below the mark. Bears would like to see the stock also cross below the higher low trendline, this could cause the trend to change and for the stock to see a strong downward push.