ANKR Price Prediction: Is ANKR Heading Towards $0.02?

• ANKR price prediction suggests a weak downside trend in the asset price for the upcoming weeks.
• Ankr ETH liquid staking APY has decreased in the past few weeks. It is down by 2.7% in the BTC pair

Ankr Protocol is a blockchain-based protocol that provides an efficient infrastructure to the Dapps. It is globally distributed over 50 proof-of-stake networks. It provides a comprehensive solution to the developers including API and RPC nodes. It was founded by Chandler and Ryan in 2017. They are one of the early blockchain users and have a lot of experience in the crypto field. Ankr is basically positioned as a node service provider and decentralized web service provider which lets blockchains communicate with each other easily. The average APY of ETH liquid staking is 5.4% which has seen a slight decrease in the past few days. It has a total of 4975 unique depositors which may see a strong increase in the future. ANKR has processed over 8 Billion daily APY requests. It is supported by 38+ networks and has more than 40000 developers. It is down by 86.5% from its all-time high but can soon see a recovery in the future.

ANKR has a market cap of $310 Million and is ranked 112th in the crypto-verse. The volume of asset prices has seen a jump of 28% in the intraday session. The volume-to-market cap ratio of ANKR suggests a weak upside trend in price.

ANKR Downtrend Continues

The weekly technical chart of Ankr hints that the Bears are overpowering the Bulls. It has an ROI of 186% which has benefitted various investors. It is forming a consolidated trend in the daily chart. Ankr is trading near $0.03 with a gain of 0.8% in the intraday session. The upside trend of asset price can see a halt near $0.04.Meanwhile, a bounce back in case of downside momentum can be seen near $0.025.It is trading below the 50 and 100 Daily Moving Averages. The 100 DMA line can see a positive crossover and can act as a resistance in the future.

The RSI of Ankr is near 40 suggesting its presence in the oversold zone. There is no slope in it hinting towards a consolidated trend in price.

Summary

Ankr has been in consolidated mode for a long time despite BTC seeing a slight upside move. Various analysts are expecting strong growth in the protocol in the future.

Technical Levels

Major Support:$0.025

Major Resistance:$0.04

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.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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