Bullish Bias Seen on the Break of $0.08154

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The bulls have ini­ti­at­ed a come­back in the ANKR/USDT pair, stop­ping a three-day relent­less onslaught by the bears as bets for bull­ish ANKR price pre­dic­tion out­comes were restored. 

The ANKR/USDT pair lost 15.74% yes­ter­day after sell­ing in the cryp­to mar­ket accel­er­at­ed towards the end of the trad­ing day. This sell­off vio­lat­ed the 0.08154 sup­port but failed to knock off the ascend­ing trend­line that con­nects the most recent lows seen from 24 Feb­ru­ary to date. The trend’s intra­day bounce could still fail to trans­late to bull­ish action if the 0.08154 resis­tance arrests the uptick.

The renewed upside move comes as cryp­to mar­ket enthu­si­asts digest the project’s launch of a new blockchain gam­ing SDK. The new ANKR soft­ware devel­op­ment kit will enable gam­ing stu­dios to enhance the Web3.0 capa­bil­i­ties of their var­i­ous gam­ing port­fo­lios. In addi­tion, the SDK will also allow gam­ing stu­dios to mint their dig­i­tal files into NFTs. 

ANKR has also been busy on oth­er fronts. It was one of three blockchain projects that launched a Binance Smart Chain Appli­ca­tion Sidechain test­net. ANKR was iden­ti­fied by Binance as one of three projects to imple­ment the test­net, in accor­dance with its 2022 BNB Chain roadmap. BAS is a next-gen blockchain infra­struc­ture that will enable devel­op­ers work on large-scale appli­ca­tions based on the Binance Smart Chain. The ANKR/USDT pair is up 2.78% as of writing. 

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ANKR Price Prediction

If the bulls suc­ceed in tak­ing out the resis­tance at the 0.08154 mark fol­low­ing today’s test, the next tar­get will come in at the 15 September/19 Octo­ber 2021 lows at 0.10454. Above this lev­el, addi­tion­al price bar­ri­ers will fea­ture 0.11952 (27 Decem­ber 2021/3 Jan­u­ary 2022 lows) and 0.13456. The recov­ery move con­tin­ues once the price advances beyond the 0.10454 resis­tance level. 

On the flip side, there is also the poten­tial for the price can­dle to face rejec­tion at the cur­rent resis­tance lev­el. In this sce­nario, the pull­back would ini­tial­ly test the 0.07354 sup­port lev­el (3 Feb­ru­ary and 20 March lows) before the 0.06474 piv­ot enters the pic­ture as an addi­tion­al tar­get to the down­side. Final­ly, 0.05475 (21 July 2021 low) and 0.04115 round off the addi­tion­al tar­get to the south in the short term.

ANKR/USDT: Daily Chart

Fol­low Eno on Twit­ter.



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