The AMC price is up 9% in the past 24 hours to trade for $0.0000001555 as of 01:05 a.m. EST.
Based on the outlook on the four-hour timeframe, the altcoin is consolidating within a falling wedge pattern, setting the stage for a bullish reversal. With this, traders are anticipating a big move soon.
🚨BREAKING🚨$AMC is trending for a massive move! pic.twitter.com/CKrMeZVKkk
— PatientWhale (@PatientWhale) July 1, 2024
A falling wedge pattern in crypto trading is a technical chart pattern that can indicate a potential bullish reversal. It is formed when the price consolidates between two downward-sloping lines that converge toward each other. This pattern typically suggests that selling pressure is weakening and that a breakout to the upside may occur.
AMC Price Prediction With a Bullish Reversal Pattern in Play
The AMC price is trading with a bullish bias, confronting the upper trendline of the falling wedge. The market is leaning in favor of the bulls, as seen with the position of the Relative Strength Index (RSI) above the mean level of 50.
The Moving Average Convergence Divergence (MACD) is also in positive territory, reinforcing the bullish outlook.
If the bulls increase their buyer momentum, the AMC price could shatter resistance due to the upper trendline. This breakout could see the AMC price make a run north, potentially as high as the $0.0000004000 psychological level.
In a highly bullish case, the gains could extrapolate for the altcoin to reclaim the peak of the market range above the $0.0000007000 psychological level.
GeckoTerminal: AMC/USD 4-hour chart
On the other hand, a rejection from the upper trendline could see the AMC price drop to test the lower trendline of the wedge at $0.0000000646. This could provide another buying opportunity for late and sidelined bulls before the AMC price records another leg up.
In the dire case where the support floor fails to hold, the AMC price could slip lower for a sweep of the liquidity residing underneath.
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Promising Alternative To AMC
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— Base Dawgz (@BaseDawgz) June 26, 2024
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— Base Dawgz (@BaseDawgz) June 28, 2024
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Also Read:
How to Buy Base Dawgz Token – $DAWGZ Presale Review
Base Dawgz Price Prediction – DAWGZ Price Potential in 2024
Best Base Chain Meme Coins To Buy – 2024 Guide
Upcoming Crypto Presales: Unlock Early Investment Opportunities!