Lately Ampleforth has been trading around $0.88 which is way below its target price of $1.03. So negative rebase has been  applied so as to reduce the circulating supply and this helped as the price in now on the recovery mode.

Currently its trading at $1 which is almost closer to the target price of $1.039 and on their dashboard they are claiming 214.597m AMPL are in circulation though on Coin market cap its showing 168,928,213.38 AMPL.

Technical Analysis on Ampleforth

The price has found support on the trendline and has managed to break above the resistance level which is at $0.94  and if it manages to hold at that support zone then our next target will be $1,20 and that happens to the the resistance level and a trendline converging.

As of today the next rebase is -1.14% at an oracle rate of $0.849. I am sure if the price close above the target price then the next rebase will be a positive and from there we expect a continuous bullish momentum.

I guess it now time to buy some Ampleforth so that you benefit from the positive rebase which is about to happen once the price has surpassed the target.jg