Market Overview for Amp/Tether (AMPUSDT) on 2025-11-07

Summary
• AMPUSDT rose from 0.002241 to 0.002419, showing a bullish breakout from key resistance.
• Momentum accelerated with RSI above 60 and volume surging near the session high.
• A Bullish Engulfing pattern formed after the 22:30 ET candle, confirming bullish bias.

Amp/Tether (AMPUSDT) traded between 0.002241 and 0.002432 over the 24-hour period ending at 12:00 ET. The pair opened at 0.002245 and closed at 0.002419, with total trading volume of 299,426,176.0 and notional turnover of $727,771. The candlestick action showed strong buying pressure, particularly in the late evening hours, pushing price above 0.002315 and 0.002400.

The 15-minute chart displayed a clear sequence of higher highs and higher lows, forming a bullish channel between 0.002280 and 0.002360 during early trading. A strong Bullish Engulfing pattern emerged after the 22:30 ET candle, with price moving from 0.002308 to 0.002414. This suggests conviction from buyers at key price levels.

On the momentum side, RSI climbed to 68 by the close, indicating overbought territory, while the MACD histogram turned positive and diverged with a strong green bar. The 20-period EMA rose above 50-period EMA, signaling a potential continuation of the upward trend. Bollinger Bands widened significantly during the breakout, suggesting a surge in volatility. Price settled above the upper band for a short period, indicating strong conviction.

Fibonacci retracements from the recent 15-minute low at 0.002222 showed that the 0.002315 level acted as a strong support zone before turning into resistance. The 61.8% retracement level (~0.002354) was briefly tested and broken, suggesting potential for a retest of 0.002414 or 0.002430 in the next 24 hours. However, caution is warranted given the overbought RSI reading and the sharp price move.

Backtest Hypothesis
The recent Bullish Engulfing pattern and breakout above 0.002315 could be used to test a directional strategy targeting the next resistance level at 0.002400. A backtest should clarify whether such a setup reliably leads to continued gains or potential pullbacks. To ensure accuracy, a clear interpretation of the “next resistance level – 0.002315” is required—whether as a price target, percentage gain, or predefined technical level. Clarifying this will allow for precise entry/exit rules and performance evaluation.