ANKRUSDT Retreats Below the $0.0600 Mark

The ANKRUSDT market has become quite volatile in recent times. Also, the fact that the market has been on a vibrant uptrend has assisted the coin to reach more elevated price marks. However, price action still finds the $0.0600 mark as a hard nut to crack, as price action continues to retreat below that mark following poking through it.

Ankr Statistics:
Current ANKR Value: $0.05934
ANKR Market Cap: $593,200,293
Ankr Circulating Supply: 10,000,000,000
ANKR Total Supply: 10,000,000,000
Ankr CoinMarketCap Rank: 152

Key Price Levels:
Resistance: $0.05934, $0.06250, and $0.06500
Support: $0.05900, $0.05500, and $0.05000

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ANKR Is Challenged But Still Has a Fighting Chance

The ANKRUSDT daily market has been able to bounce back from the previous sharp price decline, which brought the market to test the Fibonacci Retracement level of 50. The market afterward gained strong upside momentum as it appears that traders had used the decline as a re-entry point.

However, the market in the ongoing session faced a rejection, and it is the most significant in recent sessions. This has caused the market to retreat below the $0.06000 mark. Yet, price action stands above the Guppy Multiple Moving Average (GMMA) lines. Also, the Moving Average Convergence Divergence (MACD) indicator line has performed a bullish crossover which seems unaffected by the current rejection.

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Ankr Downward Rejection Gets Revealed

Earlier on we saw that the market had faced a downward rejection in the daily market. However, the session stays green. Coming to the ANKRUSDT 4-hour market, it could be seen that bears have started winning inside the 4-hour market. A moderately sized red price candle can be seen appearing for the ongoing session which plunges price action back towards the GMMA lines.

Nevertheless, trading activities remain above the GMMA curves. Likewise, the MACD lines maintain a generally upside trajectory, while its bars are now pale suggesting a weakening upside momentum. At this point, traders can still anticipate an upside move by placing trades with bullish crypto signals towards the $0.06150 mark. However, they must take care to position an exit at a convenient price level should the market continue southwards.

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