While the markets are rallying, the ANKR price prediction is not yet bullish. After being rejected from the $0.034 level, the ANKR crypto marked the low of $0.0258 this week. The $0.025 price region turned into strong support after several successful retests. The price is still trading sideways amid the first significant relief rally in the broader market.
Most Altcoins Immediately Turned Green After Rate Hike Announcement on 27the July. Many cryptocurrencies marked higher highs on the 4H and daily timeframes. ANKR the coin also showed a slight recovery, but it has yet to reach a higher high. At the time of writing, ANKR price is trading at $0.0297 after losing 1.1% in the last 24 hours.
According to official news from ANKR, the team has released the White Paper 2.0. The updated whitepaper explains in detail the vision of the project and the usefulness of the ANKR token while also covering other ANKR products.
According DeFi Llama, the TVL protocol is constantly shrinking. There is currently $106 million locked on the platform across 6 blockchains. The network supports Ethereum, BSC, Avalanche, Fantom, Polkadot, and Kusama. Most funds are locked on the Ethereum blockchain.
ANKR Price Prediction
Technical analysis of the ANKR coin shows signs of an extended bearish accumulation. The coin has been stuck in sideways price action since May. If the $0.025 support is broken, the next major support is around $0.01. The only way to avoid this bearish ANKR price prediction is to make a higher on the daily chart by reclaiming the $0.04 level.
Another major hurdle to price recovery is the $0.05 level which previously acted as strong support. This level could serve as a resistance after the recovery of $0.04. Additionally, like most altcoins, ANKR primarily follows BTC price action. Therefore, if the price of Bitcoin continues to recover, ANKR could also gain strength. On the other hand, if BTC retests 20k again, then most altcoins could drop to new lows.