ANKRUSDT May Gather Only Limited Profit

While the Ankr market currently ranks as the second-best performing token as of the time of writing, it appears that the market may only record limited profits. This impression arises from the fact that price action has grown by 7.85%, while trading indicators are signaling overbought conditions.

ANKR Statistics

Current Price: $0.01080

Market Capitalization: $122M

Circulating Supply: 10B

Total Supply: 10B

CoinMarketCap Rank: 227

Key Levels:

Resistance: $0.01100, $0.01300, $0.01500

Support: $0.01000, $0.00900, $0.00800

ANKRUSDT May Still Proceed Higher

The outlook of the ongoing session in the ANKR daily market suggests that price action could still record additional gains. However, there are signs that such gains might be limited.

The Stochastic Relative Strength Index (SRSI) indicator lines are already positioned in the overbought region. Additionally, the lines of the indicator appear merged but continue maintaining an upward trajectory. This technically suggests that bullish momentum remains viable if buying pressure strengthens enough to sustain movement around the 100 mark of the SRSI.

Meanwhile, the ongoing session continues to trade above the Exponential Moving Average (EMA) line, further supporting short-term bullish sentiment.

ANKR Keeps a Fair Outlook

On the shorter-term 4-hour ANKRUSDT chart, price action shows steady bullish progress, at least in the near term. The last price candle revealed that prices briefly pierced through the $0.01100 resistance level during the session. However, a subsequent downward correction brought the market back below that level.

Nevertheless, trading remains above the 9-day EMA curve, which supports the idea of continued upward momentum. The SRSI indicator has not yet entered the overbought region, but its lines continue to point upward.

Consequently, it seems reasonable for traders to set a short-term target around the $0.01250 price level.

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