Anchor Protocol(ANC) Technical Analysis: ANC Price Eye’s at 18% Upswing This Week!

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. 

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.

Additional Read: Top Crypto News Today, 16 March 2022.

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

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

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

ANC/USDT Technical Analysis for Long-Term

Source: Tradingview

• 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

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to support@coindcx.com.
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