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- 1 ANKR price prediction suggests that the recovery will continue and new swing highs are possible.
- 2 ANKR crypto price struggles to sustain above the 200-day EMA.
- 3 The pair of ANKR/BTC is stuck in a consolidation range and trading at 0.00000064.
ANKR price prediction stays mildly bullish for December till it sustains above the $0.02206 level.
Ankr crypto price showed a decent recovery from its demand zone and displayed initial signs of a bullish trend reversal. The buyers are trying to hold the price above the EMAs to keep the sentiment positive. If they succeed, then the price might again show a bounce back to the previous high.
In mid-October, ANKR price broke out of the $0.02000 hurdle with a high volume and triggered the rally. Later, the price began to rise upward by forming higher high candles and reached the July 2023 high.
Buyers attempted to break out of the $0.02800 level but the attempt failed and the price witnessed minor profit booking. It retreated back to the 50-day EMA which is now acting as crucial support for the bulls.
The short-term retracement is much needed for a better price discovery. However, it is interesting to see whether the buyers will be able to defend the EMA support or not.
Currently, ANKR price is trading at $0.02430 on a flat basis. The 24-hour volume to market is 7.82%.
Will ANKR Price Continue the Recovery in December?
ANKR price prediction suggests a rise in the short term and bulls are likely to continue its dominance.
Till the price sustains above the $0.02206 level, the buyers will be present to buy the dips. Therefore, the downside risk remains low.
On the other hand, the $0.02800 level is acting as a strong barrier for the bulls. If the buyers succeed in breaking the hurdle then the next phase of the rally will trigger.
The analysis suggests that Ankr crypto price is in bulls grip so short-term traders may look to play bullish bets.
Ankr Price Analysis: What Indicators Want to Convey?
On a weekly time frame, Ankr crypto price is forming a bullish reversal pattern. However, the confirmation of the trend reversal will come when buyers are able to break the $0.02948 hurdle.
The MACD curve lost momentum and reversed down; indicating a mild bearishness. The RSI at 48 near neutral territory denotes an equal level of tug-of-war between buyers and sellers.
However, the supertrend favors the bulls and suggests taht the price may show a sharp bounce in the coming week.
Conclusion
ANKR price prediction is bullish for December and suggests that recovery will continue. However, the price will pick up momentum when buyers are able to break the $0.02800 hurdle.
The analysis suggests that the Ankr price is in bulls grip so it may show a bounce by taking support near the EMA.
Technical Levels
- Resistance levels: $0.02800 and $0.03000
- Support levels: $0.02206 and $0.01697
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
