Summary
•
broke below key support at $0.001761, signaling bearish momentum.
• Volume surged after 19:00 ET as price dropped 0.8% in 90 minutes.
• RSI approached oversold levels near 30, suggesting potential near-term bounce.
• Bollinger Bands show moderate volatility with price near the lower band.
• A bearish engulfing pattern formed near $0.001783, reinforcing downward bias.
At 12:00 ET on 2025-12-23, Amp/Tether (AMPUSDT) opened at $0.001803 and closed at $0.001752. The 24-hour range was $0.001817 to $0.001710. Total volume reached 176,871,230 AMP, while notional turnover amounted to $321,307.
Structure & Formations
A bearish engulfing pattern formed on the 5-minute chart around 19:30 ET as AMPUSDT moved below $0.001783, reinforcing the downward bias.
. A key support level appears to have formed at $0.001761, which was broken with high volume. Price found temporary support at $0.001750, where a potential rebound could occur.
Technical Indicators
The 20-period and 50-period moving averages on the 5-minute chart remain in a downtrend, reinforcing bearish momentum. RSI reached 30 near the end of the 24-hour window, signaling possible oversold conditions and hinting at a potential short-term bounce. MACD remains negative but shows slowing bearish momentum.
Volatility and Bollinger Bands
Volatility expanded significantly during the late afternoon ET sell-off, with price moving near the lower Bollinger Band for much of the last 3 hours. This suggests a possible test of the 20-period SMA as a potential support/resistance pivot.
Volume and Turnover
Trading volume spiked dramatically after 19:00 ET as AMPUSDT broke below $0.001761, with 566,908 AMP traded in one session. This aligns with a sharp drop in price and suggests meaningful bearish conviction. Turnover and price action remain aligned without notable divergence.
Fibonacci Retracements
Fibonacci retracement levels drawn from the 18:30 ET swing high at $0.001807 suggest potential support at 38.2% ($0.001764) and 61.8% ($0.001736). Price appears to be targeting the 61.8% level with its current trajectory.
Looking ahead, a test of the $0.001736 Fibonacci level could trigger a deeper correction, but a bounce above $0.001761 may re-establish near-term stability. Traders should remain cautious about further downside risks and monitor volume dynamics for signs of capitulation or accumulation.
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