ANKR Price Analysis: ANKR above $0.094 support, higher prices to follow?

TL;DR Breakdown

• ANKR price analysis for today is bullish.
• The entire market has acquired a bullish outlook at Bitcoin is up by 2 percent.
• ANKR/USDT pair currently rests at $0.097.
• The nearest support is visible at $0.094.
• The nearest resistance is at $0.0975, while a major one is at $0.1.

ANKR price analysis is bullish for today as the cryptocurrency is up by 2.3 percent compared to the previous day’s price. The ANKR price analysis is based on the readings from various professionally trusted technical indicators and the data from Coinmarketcap as well. The trading volume for the cryptocurrency is down by over 6.78 percent, while the market cap has surged by 3.97 percent.

ANKR has continued to swing between $0.08 and $0.1 since 8th September after the drastic drop of Bitcoin. Bitcoin’s drop from $52K to $43K brought ANKR/USDT price from $0.13 to $0.08. The investors took advantage of this price fall, and we witnessed a rise from $0.08 to $0.105. However, our ANKR price analysis will be bullish today if the cryptocurrency follows Bitcoin’s movements.

Bitcoin price today went below support at $44.7K but bounced back and is currently at $46K. This is a support level, and if the price holds here, we might see the price of Bitcoin keep going up, aiming for higher resistance levels. In all, today seems to be a good day in crypto land and if you are looking for the best time to buy ANKR, keep on reading!

ANKR price analysis on 4-hour chart: Technical indicators showcase bullish scenario

Technical indicators help a lot in predicting the value of a cryptocurrency. Therefore, when it comes to our ANKR price analysis, ANKR/USDT price action might remain bullish for today because there we can see five consecutive green candles in the 4-hour chart. But, none of the candles are engulfing. Therefore, this trend cannot be defined as an uptrend for now. However, if green candles continue to form, there are chances of upward movement.

The price movement is currently in the middle of the Bollinger Bands after the price action failed to break out from the lower end of the Bollinger Bands yesterday. If the green candles continue and Bitcoin remains above $46K, we can see the price for ANKR to continue growing and reach the upper end of the Bollinger Bands.

Now the position of key Moving Averages in the chart below, i.e., the 50-day and the 100-day Moving Averages, show that the price of the cryptocurrency is below them. This means that the movement is bearish overall, but there is a possibility that today, the price movement tried to reclaim these Moving Averages.

While there are chances that the price of the ANKR/USDT pair might fall today if Bitcoin is unable to maintain the current levels, the long-term prediction is still bullish. Keeping this in mind, our ANKR price analysis shows a reading of 50 on the RSI. This is the neutral zone where the buying pressure matches the selling pressure indicating that a breakout is possible to either side.

On further looking at the MACD indicator, it can be seen that the MACD or the blue line is traversing above the signal line, i.e., the orange one. This is a bullish scenario and followed a bullish divergence on the 4-hour chart. Therefore, bulls might take over the price movement.

ANKR price analysis: Conclusion

Our ANKR price analysis will be concluded on a bullish note, and it can be seen that the overall price of ANKR/USDT will be bullish for the next 24-hours. If Bitcoin can’t hold the support, you must be ready for the scenario and place the selling orders appropriately. Check out the Price Predictions for other cryptocurrencies too.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.