ANKR Price Prediction: Last Chance For The Bulls To Avoid -70%

Summary:

Our ANKR Price Prediction suggests that a close below the $0.022-$0.025 region might trigger another bearish leg.

Our ANKR Price Prediction suggests that a close below the $0.022-$0.025 region might trigger another bearish leg. This region has acted as a support on multiple occasions. However, it appears to have weakened now after too many retests. Therefore, there is a high probability that the ANKR crypto price might not bounce off this level on the next retest as the demand is weakening.

According to ANKR news, the TVL on the platform has significantly decreased since the start of the year. DeFi Llama states there is currently $76.5 million locked on the ANKR platform. This is a drastic decrease from $246 million in December 2021. However, due to reduced TVL and decreased network activity, the ANKR price prediction is likely to stay bearish for the near term.

Native assets of most DeFi protocols are trading at just a fraction of 2021 all-time highs. For example, ANKR coin is also trading at $0.027, 87% down from its April 2021 ATH of $0.21. The primary reason behind this downtrend is the prevailing risk-off approach in the market, due to which investors are flocking away from the DeFi protocols.

ANKR Price Prediction

Technical analysis of the ANKR price chart shows a breakdown from the falling wedge. After this breakdown, the price failed to get back into the pattern, making things even more bearish. Nevertheless, the price has found some support at $0.025. If bulls don’t step up and reclaim the $0.042 level soon, then things can get really ugly for ANKR holders.

As shown on the chart, a daily close below $0.022-$0.025 might send the price into a deep accumulation within the $0.005-$0.01 price range. This would be a more than 70% price decrease from the current price level. This must also be kept in mind that any ANKR price prediction depends on the Bitcoin price action. Therefore, if Bitcoin price gains strength above $20,000 and aims for $24,000 level, ANKR crypto is also likely to retest its $0.05 resistance.