While Ankr Network Price Explodes, These 3 Altcoins Could 10x This Year
Leading Web3 infrastructure provider ANKR has seen an impressive start to 2023. A slow grind up from January into February saw a +123% gain riding on the back of the 200 Day MA.
ANKR is currently trading at $0.049 (a 24 hour change of +5.5%).
This follows a jaw-dropping Tuesday afternoon. Which saw ANKR price skyrocket away from supportive moving averages in a +76% pump.
The explosive move was stopped at historic resistance levels from May 2022 around $0.0575.
Rejection from resistance here forced a local retracement move.
However, bulls found quick support around $0.05 - a battle is ongoing at this level as they fight to flip $0.05 to support.
This should be a familiar level for seasoned holders. The $0.05 price level provided a month-long support zone in August 2022.
If a flip to support succeeds, ANKR's rally should find legs to push up to $0.65 (a +30% move).
Yet a breakdown could cause a serious tumble down to the gently ascending 200 Day MA at $0.30 (-40%).
Indicators are only able to illuminate this potential consolidation slightly.
The RSI 14 is overbought at 72 - signally bearish divergence as ANKR struggles to cool off from the push up.
The MACD looks a little better at 0.00140 - minor bullish divergence. This reflects the price level holding around $0.05.
Overall, the Risk: Reward ratio for ANKR is 0.84.
This is an unattractive entry, and it could be advisable to wait to see whether consolidation succeeds before taking a position.
ANKR was founded in San Francisco, California in 2017 by Chandler Song and Ryan Fang. The decentralized Web 3 infrastructure provider launched the ANKR mainnet in 2019.
The project aims to offer a suite of Web3 developer tools - that seek to empower developers, dApps, and staking providers.
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