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Ankr (ANKR) coin to reject pessimistic future projection?

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Ankr (ANKR) coin started off in 2019 with a price of $0.012. Until 2021, the coin was unable to break out of the price level and stayed stagnant; however, the bull run of the new year brought the cryptocurrency under the spotlight. Ankr coin exploded upwards and broke many resistance levels. At the time of writing, Ankr stands at a price of $0.122 which has also been established as the all-time high. The uptrend of the cryptocurrency is expected to continue in the coming days and newer all-time highs are expected to be made by Ankr.

In the past 24 hours, Ankr coin’s price went up by 23% while the daily trading volume also increased but by around 235%. Ankr stands at a market ranking of 91 which is expected to improve drastically as the market capitalization of the coin drive upwards. Despite the fact that the cryptocurrency market has turned bearish, Ankr is continues to be strongly bullish which has pleasantly surprised investors and traders. The strong bullish momentum of the coin has resulted in Ankr stealing the limelight.

Ankr (ANKR) coin technical analysis

The market for Ankr coin is strongly bullish as the technical indicators are giving out a strong buy indication. Nine of the indicators stand at a neutral position while fifteen are giving out a buy signal with only two indications of sell. The oscillators are neutral while the Moving Averages are highly bullish.

The market outlook for Ankr is positive and traders are suggesting a long position for the cryptocurrency. A trader had identified an Elliot wave series which had begun in 2020. Per the trader, the cryptocurrency is expected to complete the wave four and five of the series which lie on various Fibonacci levels. Ankr can be observed to have reached the 2.618 Fibonacci level which lies parallel at the price level of $0.119. Ankr can be expected to reach the Fibonacci levels of 3.618 and 4.23 which lie at the price levels of $0.35 and $0.69 respectively. The 50 Exponential Moving Average is acting as strong support for the cryptocurrency. The Moving Average Convergence/Divergence (MACD) and Stochastic Relative Strength Index (RSI) are on a bullish uptrend.

Future predictions

Ankr is a blockchain node hosting solution which utilizes shared resources and is able to provide the service comparatively cheaper. The recent surge in the price of Ankr has brought it under the radar of many investors. Coinbase, the leading crypto exchange, had recently listed Ankr which fueled the upward price movement of the cryptocurrency.

Wallet Investor and Digital Coin Price place the cryptocurrency at a price level of $0.30 in five years’ time. However, these projections are said to be on the pessimistic end and Ankr is expected to go even higher.

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