KEY TAKEAWAYS
- 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.
Additional Read: Anchor Protocol Price Prediction
ANC /USDT TECHNICAL-ANALYSIS FOR SHORT-TERM
Source: Tradingview
- 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.
Click here to read detailed technical analysis of Anchor Protocol
Read detailed price prediction of trending coins on CoinDCX Crypto Technical Analysis Section
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