The main catalyst for the rise $AMP
The price of AMP rose to $0.003875 (highest price in 24 hours) after forming a bullish engulfing candle on July 4, 2025, surpassing the support area at $0.00345. Traders pointed to a potential double bottom pattern targeting $0.00578 if the momentum continues (CoinMarketCap). The four-hour Relative Strength Index (RSI) (50.67) shows neutral conditions, avoiding overbought risks, while the positive MACD indicator chart (+0.0000285) confirms bullish divergence.
✅️ Supporting factors: Whale accumulation and supply dynamics
⬅️ Whales control 69.79% of the circulating supply, as wallets holding between 1 million and 10 million AMP tokens have increased to 1.97 billion tokens since June (CoinMarketCap).
⬅️ Trading balances decreased by 15% over 30 days to reach 15.35 billion AMP, reducing immediate selling pressure.
⬅️ The fair market value rate (-1.78) indicates that AMP is still historically undervalued, encouraging accumulation.