Price Analysis

Terra’s Projects Surge Heavily, Anchor Protocol (ANC), Mirror (Protocol) Spike While LUNA Price Fades Away!

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

May 24, 2022

news-image
Highlights

    Anchor Protocol and Mirror Protocol appear to have broken the consolidation and gained more than 60% since the early trading hours

    On the other hand, TerraUSD (UST) also displays a huge bullish momentum, yet the LUNA price suffers a huge plunge

Anchor Protocol (ANC)

Anchor Protocol’s recent market bullish sentiments are rising and were intending to outperform the entire crypto space earlier. And hence currently it appears that The asset is currently up by more than 78%, while the broader markets are experiencing extreme selling pressure. Over the past couple of days, ANC price earned a significant bullish rating in terms of volume and price movement. 

ancprice

The ANC price after reaching the lower levels at 0 FIB level consolidated firmly and flipped towards the 0.23 FIB levels. Woefully, the price faced a significant rejection here, yet showcasing the possibilities of ranging towards the next FIB levels at 0.38 at around $1. However, to reach the safe zone, the prices are required to reach 0.78 FIB levels at around $2 slicing through 0.68 FIB levels at $1.5. 

Mirror Protocol

The Mirror Protocol since the beginning of the present month’s trade is swinging within the descending triangle. Moreover, for the past week, the prices are trading along with the lower support of the triangle with pretty less volatility. Since the previous day’s trade, the prices experienced a significant jump that led to a significant upswing gaining more than 150% since the previous day’s trade. No doubt the prices are pretty consolidating currently, but a larger move is yet to come. 

mirprice

As mentioned above, the prices are currently consolidating after undergoing a significant jump above $0.5 to hit $0.6 for some moments. The day’s trade appears to be pretty bearish until the end of the present day. And hence an extended pullback could drag the price below $0.3, eventually. Yet a flip here may pull back the price above $0.35 but the asset could trade around $0.6 to $0.65 to end the monthly trade. However, the $1 mark still appears pretty distinct. 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button