ANKR Technical Analysis: Price Is Currently Below the Point of $0.157
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ANKR Technical Analysis: Price Is Currently Below the Point of $0.157

April 10, 2021      Ankita Awasthi

Ankr web 3.0 is an open-source platform that supports more than 40 blockchain protocols for staking and developing purposes. They have recently launched the ETH2 staking solution. It is a distributed network for building new platforms, applications, and services that are private, safe, trustworthy, and censorship-resistant. ANKR is the native token of this ecosystem.

Past Performance

On April 3, 2021, the opening price of ANKR is $0.176. As of April 9, 2021, the closing price of ANKR was $0.157. Thus, in the past week, the ANKR price has declined by approximately 12%. In the last 24 hours, ANKR has traded between $0.153-$0.161.

ANKR Price Analysis

Day-Ahead and Tomorrow

Currently, ANKR is trading at $0.156. The price has decreased from the opening price of $0.157. Thus, the market seems bearish.

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The MACD and signal lines are positive. A bullish crossover by the MACD line over the signal line has occurred too. Thus, the overall market momentum is bullish. Hence, we can expect the price to go up.

The OBV indicator has started rising steadily. Thus, buying volumes are slowly overtaking selling volumes in the ANKR market. Hence, we can expect the price to go up in some time.

The RSI indicator is currently at 72%. It is in the ‘oversold’ region. Thus, buying pressures are very high. The price is likely to go up. Moreover, it is the right time for swing traders to go short.

ANKR Technical Analysis

As per technical analysis, the price is currently below the Fibonacci pivot point of $0.157. As the technical indicators are showing bullish signs, we can expect the price to surpass the first resistance level of $0.16 in some time. If the bulls remain strong, the price can break out of the subsequent resistance levels of $0.162 and $0.165, respectively.

READ  ANKR Technical Analysis: Bearish Forces Strong, Price Below $0.167

The price has tested and broke out of the 38.2% FIB retracement level of $0.156. By day end, we can expect the price to break out of the 76.4% FIB retracement level of $0.159, if the bulls remain strong. In that case, we can expect the price uptrend to continue tomorrow as well.

Ankita Awasthi
Ankita Awasthi

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.