Crypto market has now come back to life and as of today the global market capitalization is up 3.03% from the previous trading. I am going to look into only 1 asset which has caught my eyes, Ampleforth.

Ampleforth

This crypto asset is one of a kind and it has gone up  tremendously recovering well from the pandemic which struck the crypto market  last few weeks. Ampleforth has some kind of strength which makes it powerful, the Rebase factor. When price is falling down, supply will automatically reduce so as to make sure demand is always maintained and the price will always go up.

Now Ampl is trading at $1.08 which is above its target price of $1.04 and we are soon to witness the positive rebase which is about to happen, were number of tokens in wallet automatically increase. Lets see the technical side if Ampl  so that we see the next move.

Ampl has been gathering strength and managed to trade above the trend line and its now trading at 1.08and its broke a resistance level and expecting it to close and trade above that level and the next target will be $1.30 which is our bearish order block zone.

From there will be expecting it to go an break $1.40. There are also chances that from $1.08 it might retrace and find support level at $1.03 then go up to $1.30. I guess its now the time to look for buy entries on Ampl.