Ankr (ANKR) Reflects Bullish Signs; Investors Are in Hurry

Ankr is the only platform with staking, DeFi, and node infrastructure. It is a globally distributed network that brings two movements together: decentralized infrastructure and web3.

DeFi creates the finance system for web3, while web3 is about decentralized protocols and infrastructure.  

Money embedded in decentralized protocols is the power of the Ankr crypto economy.

The recent news of Ankr is the cause behind the bullish trend. It creates a triangle shape on the chart, and it should go upwards within a few months.

Recently Ankr Network partnered with the Sacramento Kings. This multi-year sponsorship deal with the NBA team means Ankr gets more prominence and acceptance in the market, and it goes one step closer to becoming the future currency. This positive news may encourage more investors to buy this coin.

 Let’s See the Technical Chart and Ankr Price Analysis

Let’s see the technical chart and Ankr price analysisDue to the positive news in the market, ANKR created a new support level of $0.78 over the last $0.65 support level. However, on the resistance level, it reversed from the much lower level of $0.12. 

Based on Ankr price prediction, it is the ideal time to buy the coin, with a stopless of $0.078, and it may rally to the $0.17 level. Some more positive news can even break the resistance level. 

Indeed, on this weekly chart, the resistance level $0.17, $0.12, and support level $0.064, $0.079 create a triangle, which signifies a bullish trend, especially during these positive news breaks.

The MACD chart may show a bullish trend in a few weeks because the blue line is just on the verge of crossing the red line, which is a sign of trend change. For the long-term view, it is a good time to pile your coins.

On the Bollinger Band, candlesticks above the red line are a bullish signal, and this week the green candle stands over the red line.

RSI is 53, which also supports the bullish reversal. It determines the magnitude of recent price changes. RSI level 40-60 is considered good for ANKR.

Moving Average line also supports this trend that means you can hold the coin or buy it for a few months, if not for a year. However, the ANKR price can change very quickly. That is why you need to observe the chart very cautiously.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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