Ankr Price Prediction: This Rebound May Have Legs

Summary:
• What is the outlook of the Ankr price? We explain why the crypto price is rising and what to expect in the coming days.

Ankr price has not been left in the new Bitcoin and altcoin season. The token rose to a multi-week high of $0.0972 after announcing a new partnership with Syscoin. It has risen by 85% from its lowest level in February this year and is currently at the highest point since January 22. As a result, its market value has crept back to $763 million.

Ankr is a fast-growing blockchain project that provides solutions to developers in the web 3.0 industry. It offers a platform that lets them build and distribute their applications. Its primary product is a decentralized, remote procedure call (RPC) layer that is fast and highly cost-efficient. Its website has over 25,000 active endpoints and handles more than 2 billion calls per day.

ANKR is the native token for the Ankr Protocol. Like most proof-of-stake tokens, it is possible to stake the coin and earn attractive returns. Further, Ankr provides a platform that lets users stake other coins like Polygon, Avalanche, and Ethereum 2.0, among others.

The main reason the ANKR price is rising is that most altcoins like Zilliqa and Ethereum are also in a bullish trend. Another one is that it announced a strategic partnership with Syscoin, a multi-layered blockchain project. As a result, developers will now be able to access the high-performing Syscoin RPC to make request calls. 

This is the latest partnership that Ankr has done. Others are its partnership with Sacramento Kings, Avalanche, IoTeX, Arbitrum, Ellipsis, and Polygon. 

Ankr price prediction

Ankr price has made a strong recovery in the past few days. Along the way, the coin has managed to move above the key resistance level at $0.0914, which was the highest point on February 7. Moving above an important resistance level is usually seen as a positive thing since it signals that there are more buyers in the network.

Ankr has also managed to move above the 50-day moving average and the ascending purple trendline. Therefore, for now, technicals seem supportive of a more bullish trend. If this happens, the next key resistance point to watch will be at $0.1200, which was the highest point on January 3. This price is about 27% above the current level.