BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall

Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall
Anchor Protocol (ANC) broke down from a crucial support level on May 5 and reached a new all-time low price on May 11.



ANC has been decreasing at a very fast pace since reaching a high of $6.20 on March 5. On April 30, it initially bounced above the $1.70 horizontal support area (green icon). This is an important area since it had been providing support since Aug 2021. 



However, the bounce was short-lived and the price broke down from the area on May 9 and has been falling at an accelerated rate since. 



So far, ANC has reached a low of $0.143 on May 11. Measuring from the March high, this is a decrease of 96.66%.



ANC/USDT Chart By TradingView



Will ANC bounce?


Cryptocurrency trader @livercoin tweeted a chart, stating that the price could soon drop towards the $1.20 level.
Source: Twitter
Since the tweet, has dropped well below it and proceeded to reach a new all-time low price of $0.14.
In the period since May 6, ANC has decreased by a full 94% without experiencing any significant retracement. 
While the two-hour RSI had been falling for this entire period, it has now broken out from its descending resistance line. This is a sign that the price could follow its lead soon. 
Additionally, the RSI has also generated bullish divergence (green lines), another potential sign of an impending bounce. 
If one occurs, the closest resistance area would be at $1.
ANC/USDT Chart By TradingView
Wave count analysis
The wave count indicates that ANC is mired in a five-wave downward movement. In it, it has just completed a very extended wave three (black). 
As a result, a significant bounce could occur. 
So, the wave count is in alignment with the short-term readings and suggests that a bounce is likely.
ANC/USDT Chart By TradingView


For Be[in]Crypto’s latest  Bitcoin  (BTC) analysis,  click here
The post Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall appeared first on BeInCrypto .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



Dokky PRO - Bookcase Shop Script