As is often the case with listing announcements on significant exchanges, the introduction of AMP on Binance inflated 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 somewhat 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.
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. Five months ago, Coinbase had launched AMP on its trading platform. Within three months of listing, Flexa’s cryptocurrency price had risen 90%. It was even a few spots away from reaching the top 20.
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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 and the broker’s popularity. All the more so, the recent projects listed on Binance have been a hit on the stock market.
68% in just 24 hours: Why does KP3R go up so much on the stock market?
+ 30% in 24 hours: How to take advantage of the AMP rally?
Graph in 4h data. AMP / USD price
When writing this article, the AMP price is down 0.61% on a four h basis. He made a wick towards $ 0.072 after this intraday rally. It is one of its best performances since June after appearing on Coinbase. The crypto remains at -42.9% of its June 16 ATH. AMP optimists will say it will cross its ATH during this new bullish move.
There is a lot of pressure on the demand side since it has been observed intraday that the trading volume is up 955%. It shows the appetite of investors for AMP. The hypothesis of a retracement is entirely plausible before an upward recovery. However, the three indicators give us an excellent buy signal at the graphical level.
- 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)
Because the course may be 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.
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