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Ankr Price Volatile as Bulls and Bears Fight For Dominance

Ankr Price Volatile as Bulls and Bears Fight For Dominance
  • Ankr price has been volatile over the last week with many highs and lows.
  • The price analysis reveals a bears vs bulls tug of war, but which side is winning?
  • Ankr token will be used in the upcoming Stkr protocol.

Ankr price today is $0.039, down 14.6% from its all-time high of 0.04544 on the 22nd of February. Also, the token price has been unpredictable lately with sudden high and lows.

Ankr is a blockchain that is ‘paving the way to the open the internet of the future’ through Web 3 tech. The platform strives to improve user experience and streamline processes while reducing costs. In addition, Ankr protocol marketplace provides easy access to a variety of options for staking and developer node deployment.

Source: TradingView

Based on price chart analysis, Ankr has shown a slight head and shoulders pattern. The pattern indicates that there is a tug of war between the bears and bulls as they try to drag the token into their respective territories. Currently, Ankr price is on the rise but it is too early to determine a winner.

However, it seems the token is overbought, as the token’s Relative Strength Index (RSI) for the past week was 84.5. As a result, Ankr could trigger a sale action at any moment. Thus, investors should proceed with caution.

Notably, the Ankr token is not just a payment method on its blockchain. The token will also play an important role in Stkr, Ankr’s decentralized staking protocol. Thus the demand for the token will go up once Stkr launches. Currently, Ankr has a circulating supply of 7 billion tokens with a maximum supply of 10 billion.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Avid reader and writer with a passion for sharing crypto news and trends. Uses her background in finance to help readers better understand the crypto market and investments. Hopes to see mainstream crypto adoption in the near future, especially in Africa.