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- Microsoft partnered with Ankr to offer a node service for enterprises in need of blockchain data access
- Ankr and Microsoft will work together on a new node hosting service in Azure cloud marketplace
- Ankr token price surged 47% on a weekly basis and formed bullish reversal pattern
The tech giant Microsoft has partnered with Ankr to offer node services for the enterprise clients which has positively impacted the Ankr prices and investors turned highly bullish for the future outlook of Ankr projects.
Microsoft and Ankr will work together on a new node hosting service in a Microsoft Azure cloud marketplace, with tailored memory and bandwidth specification for blockchain nodes. The node deployment service will enable web3 projects developers to deploy smart contracts, Moreover to relay transactions as well as read or write blockchain data.
What can be the next destination of ANKR price?
Ankr token price has triggered a massive rally of more than 60% and formed a giant bullish candle on an intraday session when Microsoft announced partnership with Ankr to offer node service for enterprises who are in need of blockchain data access which grabbed the attention of worldwide investors and shows that the future of Ankr token looks bright for the long term investors
In the mid of January, Ankr token price took a U-turn and managed to climb above the 50 day EMA which has created a hope for its long term investors and prices begin to move upward by forming fresh higher high swings. Later, after a little bit of consolidation Ankr bulls also succeeded to push the price above the 200 day EMA indicating the positional trend has reversed in the direction of bulls and token is expected to journey toward $0.06000 mark. However, the recent up move has attempted to break out of the supply zone at $0.05888 but faced rejection also shows it will be not easy for bulls to dominate on the higher levels.
Meanwhile, Ankr also witnessed a huge volume spike and the price is also following the same direction shows that some genuine buyers have taken long positions and are expecting outperformance in coming months. The technical indicators of the Ankr token like MACD had generated a positive crossover indicates bullishness to continue for some more time whereas the RSI at 80 denotes overbought zone which might trigger profit booking from the higher levels. However, The chart structure is bullish and if minor sell off triggers form the higher levels then $0.03563 will act as an important support level for the bullish traders.
Summary
ANKR crypto prices had shown a surprising up move of 47% on a weekly basis due the recent partnership with the tech giant Microsoft which shows that the future of web3 infrastructure provider Ankr looks bright and more and more innovation is possible in coming months. The technical analysis suggests that the recent up move looks sustainable and prices are expected to hold the support level mentioned in the chart.
Technical levels
Resistance levels : $0.05888 and $0.07006
Support levels : $0.03563 and $0.02461
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
