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Price Analysis

ANKR Price Analysis: Coinbase Pro announcement Pushes ANKR to ATH

Ankr is a distributed computing platform helping blockchain developers to easily build and deploy different blockchain solutions in an affordable manner. ANKR is the platform native crypto token using which users can pay for the services used. There are different services hosted onto the Ankr platform like node deployment. Besides, the ANKR token also serves as an incentive for network participants.

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ANKR became the top validator on Binance Smart chain just last week, due to which it rose a staggering 137% in 24 hours. It quickly went from $0.037 to $0.078, before tumbling to $0.062 following the profit booking and consolidation session.

Technical Analysis

Coinbase on March 24, 2021 announced that it will support ANKR on its premium service, Coinbase pro. This fueled the prices to hit ATH of $0.1223, but came under the profit booking session. It is now consolidating around $0.09888 with a 32% jump. The support seems to be forming at $0.0949.

ANKR, with the current statistics, boasts a Market capitalization of $690,060,698. It also saw staggering increase in the volumes totalling to $1,347,472,524 with 629.84% increase in just 24 hours. However, it will be interesting to see the next couple trading sessions. 

ANKR/USD One hour Candle Chart

The one hour candle chart showcases the sudden surge in the levels of price, breaking the resistance levels at $0.084 of the consolidation parallel pattern earlier. However it is important that the current levels at $0.09888, in order to continue its bullish trend. 

There is a downside if the support levels break, which will roughly form an inverted cup and handle pattern, which could further lead to the fall of prices to the next support levels of $0.0732. $0.083 could also act as a support, although it does not appear to be as strong as the next support.

MACD is indicating Extreme bullishness, but Bollinger bands are contracting, signalling a drastic move shortly. The RSI lies at 50 levels, hence has good liberty for the moment both ways. ANKR ranks in top 100 cryptocurrencies with this rise.

Support: $0.083, $0.0732. 

Resistance: $0.1025, 0.1213

RSI: 50

MACD Bullish

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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