ANKRUSDT Analysis May 24, 2022

We are Bearish on Ankr Protocol, ANKRUSDT , since early April, but wow, the allies that this project is bringing on board is amazing!

To name a few in no particular order of greatness; Solana SOLUSD , Binance Coin BNBUSDT , Ethereum ETHUSD , Syscoin SYSUSDT , Matic Network MATICUSD , Near Protocol NEARUSDT , and IoTex IOTXUSD . We will name a few more; Avalanche AVAXUSDT , Polkadot DOTUSD and Kusama KSMUSDT .

And today they announced that Tron TRXUSDT will partner with ANKR to improve access to their Web 3.0 infrastructure.

The founding team and fundamentals look amazing for this project and here is our current technical analysis; the Horizontal Resistance Line at ($0.105) could not be broken and the Horizontal Support Line at ($0.077) was shattered and the price drop continued all the way down to ($0.035). The Daily Uptrend Line has also been broken, the Weekly Downtrend couldn't be reclaimed, and we are kind of in limbo between these two softer Resistance and Support Lines. We are down over 75% since the All Time High in April of 2021. The Weekly Downtrend Line, unfortunately (or fortunately) has a triangle formation at the ($0.02625) Support Area (not visible on this chart). Not Financial Advice...Trade with Confidence and Control.