odyszeus

AMPL in a steady updtrend

Long
KUCOIN:AMPLUSDT   Ampleforth / Tether

AMPL is in a steady uptrend since the May crash. It is the only token I found to have somewhat decoupling from the cryptomarket temporerally and continues to make steady profits since May. This may be due to the rebasing nature of AMPL. We can see AMPL has been fluctuating in a channel between ~0.7 and ~1.8 USDT over a long period of time. Currently it stands at around the mid point of 1.07 USDT. If this is the case, AMPL was, and still remains a very good investment, at least until we get a clear direction for the general market, as it is less susceptible to the constant BTC dips. Instead, by following its current uptrend, it is gaining very good traction against BTC (see the AMPL:BTC chart).

I expect one of two scenarios:

1. AMPL will continue up until it reaches ~1.8 USDT and then it will start declining. This is representative of the simplistic sketch I made in the chart. I suggest stop losses at around the current daily MA price. Expected profits can be around 50%.

2. New hype (e.g. AMPL being added on AAVE as a borrowing asset) may bring a surge of new liquidity into AMPL causing a price hike that may shoot price out of the regular channel and above 1.8 USDT. This won't last, but can lead to very high short to mid term profits (see AMPL:BTC for potential).

In any case AMPL seems like a very good investment for now.
Trade closed: target reached: Looks like scenario #2 played out. Time to take profits if you haven't already. AMPL is now overextended and may correct harshly soon.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.