Last time, we predicted that Ankr (ANKR) would easily reach the resistance at $0.0119 due to its overall bullishness, which it did in a truly impressive fashion, having gone at it with a single weekly candle.
1-week ANKR/USDT chart
Upon breaking the resistance to the upside, Ankr had reached the all-time high at $0.0186, which also was the main theme of the last Anrk price prediction, got rejected, and then held onto the support for another two weeks. September has proven to be disastrous for this altcoin, and the rest of the cryptocurrency market for that matter, as the price took a nosedive, ultimately wiping out all gains made in the preceding two months as it made a return trip to the previous support at $0.0058, the starting point of the last rally. But even this considerable price dump can’t be deemed as a catastrophe for Ankr, at least while the buyers display the ability to defend the support and maintain that higher low.
At the beginning of October, the bulls have made a futile attempt to overpower the said resistance but were vehemently rejected in a move that formed a bearish engulfing candle that now threatens the established range as it signals about the growing pressure on the part of the sellers.
Another thing that becomes apparent on the weekly chart is the emergence of the descending triangle, a bearish pattern that elevates the threat of the break of the established range to the downside that would lead to the ruination of the uptrend structure. But before that, ANKR is likely to continue ranging before it reaches the apex of the triangle that could take five to eight weeks.
The restoration of Bitcoin dominance that went from 56.15% at the beginning of September to the current 63.4% is another factor that might exert a negative impact on Ankr since the market capitalization of altcoins, especially the lower-ranked ones (ANKR is at the 149th spot with the market capitalization of $40.6 million) are the one that usually sees the largest exodus of capital when the BTC dominance rises. But, as already mentioned, Ankr is likely to keep on ranging for a while, as both RSI and MACD suggest, since they both have been flowing in the corresponding neutral zones since September with a slight inclination to the bearish side.
However, we shouldn’t disregard the possibility of bullish developments, in which case, the buyers must first break the triangle to the upside, presumably at $0.0087, and then take out the resistance at $0.0119 that would be a clear signal about the commencement of another bull rally.
1-week ANKR/BTC chart
We see a similar descending triangle in the BTC market, though here the price has already approached the apex of the descending triangle and got strongly rejected after testing its upper line at 86 satoshis that resulted in a huge bearish engulfing candle. Here we predict that ANKR will go through another significant price drop - around 40% in the next two to three weeks - that will take the price to 30 satoshis.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 76.8% | 40 | $69 187.87 | -0.65% | 3.36% | $1 368 322 703 656 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 88% | 21 | $2 486.25 | -1.16% | 0.52% | $299 369 696 897 | ||
3 | USDT | Tether predictions | 94% | 1 | $0.999719 | 0% | 0.10% | $120 542 832 225 | ||
4 | BNB | Binance Coin predictions | 94.4% | 4 | $567.27 | -1.13% | -2.57% | $81 744 111 407 | ||
5 | SOL | Solana predictions | 69.2% | 65 | $165.45 | -0.87% | -2.98% | $77 895 836 424 | ||
6 | USDC | USD Coin predictions | 90.8% | 1 | $1.000009 | -0.01% | 0.01% | $34 873 123 501 | ||
7 | XRP | XRP predictions | 90.4% | 5 | $0.510368 | -0.91% | -0.36% | $29 023 926 568 | ||
8 | DOGE | Dogecoin predictions | 64% | 77 | $0.157946 | -1.96% | 15.80% | $23 159 704 045 | ||
9 | TRX | TRON predictions | 91.6% | 4 | $0.165396 | -1.20% | -0.10% | $14 299 090 322 | ||
10 | TON | Toncoin predictions | 89.2% | 13 | $4.87 | -0.97% | -0.72% | $12 398 878 230 | ||
11 | ADA | Cardano predictions | 90.8% | 7 | $0.345970 | -4.09% | 4.24% | $12 107 228 142 | ||
12 | STETH | Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
13 | SHIB | SHIBA INU predictions | 80.8% | 28 | $0.000017 | -1.95% | 2.59% | $10 229 752 246 | ||
14 | WTRX | Wrapped TRON predictions | 90.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 | ||
15 | WBTC | Wrapped Bitcoin predictions | 92% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 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.