AMP has stabilized on that support and is looking to make a Third . Considering the market conditions that might quickly turn positive, I expect this coin to make similair move as it is laid out on the chart.
I am giving this trade about 2 weeks to about 3 months to completely develop. We should be taking small profits along the way. Here are some of the targets
Long term, this coin looks really bullish. On weekly candles it's in a huge falling wedge witch is a bullish indicator. We will see how this trade continues though.
Volume is growing, on the weekly, so we will see what happens.
Patience is the key.
Short term we are starting to look more and more bullish. EMA's are very close to crossing wich would confirm the upward trend.
We are slowly piercing through the red Ichimoku cloud which also shows strong opposition towards bearish trend. Also, short volume spikes are appearing wich can be interpreted as potential trend reverse.
This is very good since the long term picture is showing bullish signs aswell and if this trend continues, short term will soon officially confirm it.
Strong pierce through Ichimoku cloud appeared after a short pullback. Strong volume also appearing. We'll see how this one plays out.
In the end it turned out that we sold on a peak.
A real crap this coin.
And the project also ... very little update on their social networks.