- The ANC price closed the previous day’s close at $2.825 with a market capitalization of $769.63 million and a circulating supply of 264,577,677.49 ANC
- The price has flipped from the huge descending channel and trying hard to sustain with an uptrend
- Anchor Protocol may undergo an uptrend of nearly 20% to hit the immediate resistance and also maintain the trend further
Anchor Protocol(ANC) Technical-Analysis for Today: 16 March 2022
The asset maintained a descending trend ever since it smashed its highs close to $6. Currently, it traded within a strong bearish trend throughout the previous day’s trade to hit the bottom levels around $2.66. However, as the end of the day’s trade approached, the asset flipped hard and ignited a decent uptrend which continued until the press time.
Despite a notable selling volume, the asset maintained a significant uptrend and hence it appears that the bears may not impact the rally to a large extent. Therefore, the ANC price may continue rising high, nullifying the bearish accumulation and regaining the levels above $3 to end the day’s trade.
Anchor Protocol(ANC) Technical Analysis at a Glance
Anchor Protocol ever since smashed its highs above $6, fell into a deep bearish well which dragged the price much below $3. However, the asset ignited a strong flip slightly above $2.5 and is attempting hard to maintain the uptrend. Despite a serious strive by the bears to drag the price down, the asset stands strong close to $3. A leg up above these levels may validate with an uptrend that could smash $3.5, ensuring through $3.26 resistance levels.
|Short-Term||The price is maintaining a notable uptrend and may continue to rise high slowly as the buying volume remains the biggest constraint|
|Mid-Term||ANC price just flipped the bearish trend some time ago and is expected to maintain a strong uptrend until it hits the upper resistance at $3.5|
|Long-Term||The asset witnessed a notable drop in its price and despite the accumulation of buying volume, the possibilities of a fresh plunge haunt the rally|
Additional Read: Top Crypto News Today, 16 March 2022.
Technical Indicators & Pivot Levels
|Technical Indicators||Value(1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||58.84 / 50.73||Buy / Neutral|
|MACD(12,26)||0.018 / 0.321||Buy / Buy|
|Average Directional Index(ADX)||28.4 / 42.66||Buy / Sell|
|Bull-Bear Power||0.126 / -0.855||Buy / Sell|
|Average True Range(ATR)||0.051||0.622|
The Anchor Protocol is flashing huge bullish signals in the short term as most of the indicators are pointing out ‘buy’ signals. The RSI, MACD, Bull-Bear power, etc are extremely bullish and hence a strong uptrend may be pre-programmed. Also, the ADX is bullish indicating building strength within the rally that may uplift the price towards immediate resistance.
However, the long-term forecast is largely bearish as RSI cement within the average regions. The Bull-bear power is also negative with bears to gain control and the ADX being bearish signifies a weakened rally. However, the MACD showcases some hopes of an uptrend as the selling volume is expected to ease shortly.
ANC /USDT Technical-Analysis for Short-Term
- The price falling from the cliff of the mountain compelled the asset to swing within a falling wedge
- The recent flip displayed the preparations of the asset to barge in through the resistance and hit the immediate resistance
- The ANC price may slowly yet steadily rise hit to achieve the important resistance levels at $3.52 and continue rising high close to $4, where it may face a rejection
- However, the rejection may not drag the price below $3.5, as a strong flip may be ignited at these levels
- Further with a strong flip, the asset may rise high to test the mandatory resistance close to $4.5
ANC/USDT Technical Analysis for Long-Term
- The ANC price in the long term is appearing bullish despite the technicals point towards a bearish trend
- The asset since the beginning maintained a strong uptrend line which acted as a strong support levels
- The recent drop slashed the price towards the trend line and the asset is currently attempting hard to flip and ignite a decent uptrend
- If the asset successfully sets an upturned, then the possibilities of the price surging high towards the immediate resistance around $4.5 without any barrier are pretty high
- However, here one can expect a small pullback which could halt the bullish trend for a while and after a healthy consolidation, the uptrend could resume towards the ATH
Where & How to Buy Anchor Protocol(ANC)
Anchor Protocol(ANC) can be easily bought and held on CoinDCX. Being India’s top cryptocurrency exchange, CoinDCX offers a wide variety of crypto assets to deal with. Also, the benefits and lucrative in-App features attracted many on-board. And hence we proudly serve a huge user base of more than 1 crore.
To begin your journey, follow the below-mentioned steps to register,
- Download the CoinDCX App on your smartphone
- Enter the required details
- Once the verification is completed, fund your wallet and buy your desired crypto
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