Bitcoin
BTC$30 127.85

-3.00%

Ethereum
ETH$2 045.64

-3.49%

Tether
USDT$0.998905

-0.01%

USD Coin
USDC$1.000390

0.04%

Binance Coin
BNB$301.61

-1.74%

XRP
XRP$0.430207

-2.88%

Ankr: Another Altcoin Closes In On the All-Time High


August 2020

Even though Bitcoin had finally broken the impasse and took aim at the highs of last year’s bullish rally at $13,000, the altcoin market didn’t seize its revival that began a few weeks after the Bitcoin halving. The resurgence of alternative coins provided a bullish boost not only to the top-ranked cryptocurrencies, most notably Ethereum, but also to a bunch of lower-placed ones like Ankr (ANKR) that was able to showcase triple-figure gains in a span of a month.

A hard gainer with more upside potential

ANKR historical chart

This summer has so far proven to be very hot for ANKR because it got an astounding 468% price appreciation during the past three months and found itself only 46% away from the all-time high at $0,017 that the price reached in April 2019, almost immediately after being listed on the exchanges.

Speaking of exchanges, Binance usually serves as a go-to place for those who want to trade ANKR since this platform boasts the largest share (60%) of the entire trading volume that has been fluctuating over the past 90 days from $1.5 million to $90 million per day during the sharpest price spikes.

Ankr is a native token of blockchain infrastructure for Web 3.0 that accommodates the providers of cloud computing capacities and developers of applications for decentralized finance (DeFi). The platform also affords for the swift deployment of corresponding solutions with the need to devise a code. Perhaps it’s the involvement in the DeFi space that fueled the flight of ANKR price to the stratosphere. Given the dynamic of price action, the chances are high that Ankr will make its way to the historical peak sometime during the next two months.

The situation on the weekly time frame demonstrates how disrespectful ANKR was with regard to the previous levels of resistance, like the one at $0.0058, for instance, which the price passed it like a hot knife through butter.

1-week ANKR/USDT chart

Here we can also see that ANKR has virtually no opposition ahead of the peak of the previous cycle at $0.0119. All key indicators on this time frame confirm the overall bullishness of that altcoin.

The same situation unfolds on the daily time frame where ANKR is currently in the process of forming a bullish flag upon making a healthy retracement to $0.0051

1-day ANKR/USDT chart

We reckon that the flagpole will emerge slightly above $0.01, so most impatient still have the chance to make the 5% profit before the bull run climaxes. Once that level is reached, ANKR might have a retracement to $0.0085 as a part of the pattern development. But after the resolution of the flag, it’s the highway to $0.119.

Author: Alex Paulson for Crypto-Rating.com

Related

Anrk (ANKR) Is Hanging In the Balance
Anrk (ANKR) Is Hanging In the Balance

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 65.6% 75 $30 127.85 -3.00% -1.46% $573 691 120 758 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 77 $2 045.64 -3.49% -9.90% $247 127 888 676 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.998905 -0.01% -0.10% $75 669 201 846 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000390 0.04% 0.05% $52 067 570 451 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 64% 71 $301.61 -1.74% 0.09% $49 245 541 999 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 65.2% 70 $0.430207 -2.88% -13.13% $20 797 523 991 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 68.4% 68 $0.564719 -5.93% -8.41% $19 053 066 566 ADA 7 days price change
8 Solana (SOL) SOL Solana predictions 64% 80 $54.87 -3.76% -14.19% $18 504 202 384 SOL 7 days price change
9 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.001802 0.01% 0.14% $18 030 500 141 BUSD 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 75 $0.089226 -2.37% -15.15% $11 837 628 956 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 77 $10.85 -5.25% -0.79% $10 719 658 670 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64% 79 $33.45 -4.80% -20.93% $9 001 419 724 AVAX 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.6% 75 $30 106.86 -3.05% -1.48% $8 550 465 811 WBTC 7 days price change
14 TRON (TRX) TRX TRON predictions 68.4% 61 $0.069877 -1.90% -8.63% $6 831 881 782 TRX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 78 $0.000012 -3.50% -14.12% $6 733 612 508 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.