AMP Surges, IOTX Lower After Friday’s Jump – Market Updates Bitcoin News

Friday’s big gainer IOTX fell lower on Saturday, as a red wave continued to submerge crypto markets to start the weekend. As of this writing, cryptocurrency prices were around 5% lower.

The biggest gainers

Finding a bull in a market that was trending downward was difficult.

There were however two notable exceptions. One was EGLD. The standout, though, was AMP, which rose close to 10% in the course of the session.

On Friday, the AMP/USD traded at $0.03055. It then climbed to an intraday peak of $0.03723 this morning.

Today’s move came as the price of AMP rallied to resistance of $0.0340, briefly breaking out of this level in the process.

Despite falling below this level since, prices are still higher than yesterday’s low, as bulls managed to resist the onslaught from Saturday’s bear market.

The price strength increased to 49. This was the highest since January 4. However, this ceiling remains firm.

Since then, the moving averages for ten (red) or 25 (blue), have seen an upward cross-over. This keeps hope alive for upcoming bullish momentum.

Biggest Losers

For the third time this week, the bull of one day moved to being the biggest loser the next, as IOTX gave up some of Friday’s gains.

IOTX surged up to 15% yesterday and fell by an identical percentage on Saturday. Traders appear to be able secure profits.

IOTX/USD fell from a peak of $0.1195 to an intraday high of $0.0965 yesterday as markets appear to be headed for support at $0.1120.

Despite today’s move, price strength still remains in overbought territory, and is tracking at 52.95 on the 14-day RSI.

It could offer a chance for longer-term bears to retain their short positions.

Is this bearish pressure going to ease as we approach the weekend? We’d love to hear your comments.

Eliman Dambell

Eliman has a broad perspective on market analysis. He is a former brokerage director and retail trading teacher, and a market commentator for Crypto, Stocks and FX.