Ankr 1D Chart - Upcoming PossibilitiesHello friends, today I am reviewing the 1D chart for Ankr (ANKR), a crypto altcoin on a linear scale.
In the chart I noted:
1) The price has been bouncing off of a long term upward trendline since June 2021.
2) The price started moving up another smaller trendline since October 2021.
3) The price has the potential to re-test the Fibonacci golden pocket zone (0.618-0.65), which would be a 10% move upwards.
4) There is also significant resistance at the 0.786 fib level which was there in March to May 2021 timeframe. The price was not able to break out of this area and it broke down from that point into consolidation.
5) If the price does not break the top side resistance trendline, we can see the price go back down to the bottom support trendline which would be a 30%+ move downwards.
6) The RSI (relative strength index) is at a resistance trendline and possible to breakout of it, otherwise it will fall back down to the lower support trendline.
7) The volume seems to have picked up over the past few weeks.
8) The Ichimoku Cloud is showing a green support zone which may be a good sign for Ankr but BTC price movement make dictate where Ankr price moves in the short term.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
