Ankr Network Token (ANKR/USD) jumps 6% to resistance – Crypto News – Crypto News
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Ankr Network Token (ANKR/USD) jumps 6% to resistance Ankr Network Token (ANKR/USD) jumps 6% to resistance

Cryptocurrency

Ankr Network Token (ANKR/USD) jumps 6% to resistance – Crypto News

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3 years ago

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  • Ankr Network token rose after becoming an RPC for Sui blockchain

  • ANKR remains subdued by a resistance

  • The token could correct despite the intraday gains

Ankr Network (ANKR/USD) witnessed increased investor interest on Thursday, pushing the token up 6%. The gains reflected positive cryptocurrency news. Attention will not shift to whether the token will sustain gains as it hits a key resistance level.

Ankr is a platform that provides access to the decentralized internet. The network aims to eliminate the barriers to entry to the blockchain by decentralizing control to users and developers. To achieve this objective, Ankr provides simple tools and interfaces for Web3 development. ANKR is the native token that powers the ecosystem and helps in on-chain governance.

Thursday’s gains of the ANKR token came after becoming the first Remote Procedure Call provider for the Sui blockchain. The announcement on November 22 indicated that Ankr would let developers create and upgrade dApps on top of Sui. Ankr will also support the Sui mainnet after it goes live. There is additional expected support for docs, tools, and features for the Web3 developers. The partnership also opens up opportunities for geo-distributed and decentralized RPCs for Sui.

The latest announcement also coincides with the increasing growth of Ankr staking. According to the network’s November 23 Twitter post, more than 56,000 ETH has been staked with Ankr staking. The developments have since fueled increased speculation for the network’s native token.

ANKR faces correction at $0.026 despite the intra-day surge

JPY/USD Chart by TradingView

Despite the intra-day gains, ANKR has met resistance at $0.026. The cryptocurrency is correcting, resulting in a potentially bearish pin bar below the key level. Besides, the long-term trend for the coin is bearish.

When to buy ANKR?

ANKR should not be on your list of cryptocurrencies to buy despite a positive price action. A recovery from the bearish market will be confirmed if the cryptocurrency breaks above the $0.026 support. Buyers will still need to be cautious of a retracement at the descending trendline.

On the flip side, the formation of a bearish signal below the key support would make ANKR vulnerable. A price back to the $0.019 support or lower would be in sight.

Where to buy ANKR

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy ANKR with eToro today

hold up

Uphold is a platform which has over 50 cryptocurrencies to choose from. Its users can make crypto trades with a bank account, credit card or crypto debit card. It has variable fees and allows users to automate trades. Users who are on Brave’s internet browser can also earn BAT tokens based on their browsing habits.

Buy ANKR with Uphold today

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