Overview
- In short would wait until price touches the triangle support(red) for lower risk but if the crypto market pumps, this could give ANKR the boost it needs to see big gains long-term. Let's start from the top!
Price Chart
- 1hr chart with 20/50/200MA's to help indicate future supports or resistances
- As of now, MA's look terrible as I don't tend to trade when the 200MA(red) is on top of the lower MA's.
- Quick note: If the 200MA is above lower MA's, this means trend is bearish
- If price breaks through the 20MA clearly may have enough momentum to break 200MA
- Bullish triangle is a possible pattern as the resistance line(green) has a larger angle and support line(red) is close to horizontal
- Break below $0.147 you don't want anything to do with it at this time
- Overall been seeing breakouts occur when the 20MA and 50MA come in contact with each other so it's possible that's the case here
- Risky trade, big profit, would wait till support(red) is touched before making an entry. But does have the possibility of breaking out before this occurs
RSI
- Showing an inverse head&shoulder pattern which is bullish and could cause a breakout to the first major resistance at $0.182, break that and could head towards the current ATH
MACD
- Not a fan of the signal line(blue) crossing MACD(orange) as this indicates it's time to sell.
- 4hr MACD looks a tad better
Stoch
- 4hr stoch value is indicating it's time for another run up
- Last time stoch was in this range, price rose 25%
4HR Chart
- Text explains chart
Extra Info
- Learn about ANKR here: www.ankr.com/
- ANKR VOLUME: coinmarketcap.com/currencies/ankr/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading
MoneyGrind
- In short would wait until price touches the triangle support(red) for lower risk but if the crypto market pumps, this could give ANKR the boost it needs to see big gains long-term. Let's start from the top!
Price Chart
- 1hr chart with 20/50/200MA's to help indicate future supports or resistances
- As of now, MA's look terrible as I don't tend to trade when the 200MA(red) is on top of the lower MA's.
- Quick note: If the 200MA is above lower MA's, this means trend is bearish
- If price breaks through the 20MA clearly may have enough momentum to break 200MA
- Bullish triangle is a possible pattern as the resistance line(green) has a larger angle and support line(red) is close to horizontal
- Break below $0.147 you don't want anything to do with it at this time
- Overall been seeing breakouts occur when the 20MA and 50MA come in contact with each other so it's possible that's the case here
- Risky trade, big profit, would wait till support(red) is touched before making an entry. But does have the possibility of breaking out before this occurs
RSI
- Showing an inverse head&shoulder pattern which is bullish and could cause a breakout to the first major resistance at $0.182, break that and could head towards the current ATH
MACD
- Not a fan of the signal line(blue) crossing MACD(orange) as this indicates it's time to sell.
- 4hr MACD looks a tad better
Stoch
- Last time stoch was in this range, price rose 25%
4HR Chart
Extra Info
- Learn about ANKR here: www.ankr.com/
- ANKR VOLUME: coinmarketcap.com/currencies/ankr/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading
MoneyGrind
Comment:
BTC had a slight sell-off that ended up dropping price down below the triangle. This may just be BTC's gift of getting ANKR on sale before it takes off or ANKR could be searching for a new support. Since this is a bullish market, I still believe this bullish market could send ANKR to higher prices this month.
