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Trading activity in the ANKR/USDT daily market started on a strong note. However, price forces have acted on the market, pushing price action back below some key technical levels. Nevertheless, price action is hovering around an important threshold that could allow bullish forces to continue influencing the market.
Ankr Statistics
ANKR Current Price: $0.01784
Market Capitalization: $179.26M
Circulating Supply: 10B
Total Supply: 10B
CoinMarketCap Rank: 185
Key Price Levels
Resistance: $0.01800, $0.02000, $0.02200
Support: $0.01700, $0.01500, $0.01300
ANKR/USDT Market Stays on a Promising Path
Trading activity in the ANKR daily market saw a strong upward retracement earlier today. As noted, bullish forces appear to remain active despite a recent downward price contraction. Price action remains above the 20-day Moving Average (MA) line, while the upper shadow of the latest price candle pierced through the 50-day MA curve.
Meanwhile, the Stochastic Rate of Change (SROC) indicator remains below the equilibrium level but is taking on a slight upward slope. This suggests the potential for a modest bullish recovery shortly.
Ankr Downward Retracement May Be Shaken Off
While the ANKR/USDT market remains in the green on the daily chart, a significant downward retracement has been observed on the short-term chart. On the 4-hour chart, price activity has managed to move above all the MA lines.
Meanwhile, the current session has shown a moderate pullback. However, the SROC indicator lines are positioned above the equilibrium level and continue to follow an upward trajectory. Consequently, even on shorter timeframes, the market maintains a promising outlook. Therefore, traders may continue to target the $0.01900 level for short-term gains.
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