ANKR price (ANKR-USD) has surged by more than 60% in this week despite a bearish price action by most cryptocurrencies. On Wednesday, ANKR crypto gained 8.5 after a massive 33% price increase on the previous day. Since the start of the year, the price has been on an uptrend and has soared 210% from its December low.
However, ANKR coin is not the only cryptocurrency experiencing positive price action in 2023. Many other altcoins have also posted similar gains due to a massive recovery in Bitcoin price. Although crypto markets are correcting once again, ANKR still remains green. Understandably, many investors are still jittery about the prospects of recovery following the long winter. Nonetheless, opportunities still abound amidst the risk signals. A great trading tool like Quantum AI can help you leverage the opportunities in the market while minimising risk.
ANKR Announces Microsoft Partnership
As per the official ANKR news, the project has partnered with Microsoft to provide low-latency infrastructure to Web3 products. The news has pumped the ANKR price massively, which is now trading at $0.05. On Wednesday, the price expected a slight pullback as Bitcoin fell below $24,000 but the uptrend still remains intact.
According to the details, ANKR will provide node hosting services on Microsoft Azure Marketplace. The partnership will also enable the web 3 companies to focus on the scaling aspects without worrying about the infrastructure.
ANKR Price Daily Chart
ANKR/USD chart has shown good strength since the start of the year. The ongoing exponential rally is not surprising at all as the price already had reclaimed the $0.023 level. This level acted as strong resistance in the Q4 of 2022. Since its reclaim, ANKR price prediction has flipped bullish, with the next target of $0.059 in sight.
If Bitcoin price shows some strength and remains above $24,000, then I expect ANKR to retest the range high around $0.059 level. This is the August 2022 low as well as the 0.5 Fib retracement level of the drop from $0.10. This would be a very critical retest, as a reclaim of this level will unlock a massive upside.
Rejection from this level will send the price to retest the range mid at $0.41. Another factor likely to affect the price action of most altcoins in the coming days will be BTC’s ability to break above $25,000. If Bitcoin breaks below $21,300, then altcoins will also face a big pullback.
