Ankr Network token rose after becoming RPC on Sui blockchain
ANKR remains held back by resistance
Despite Intraday Gains, Tokens May Be Corrected
Ankr Network (ANKR/USD) boosted its token by 6% on Thursday as investor interest increased.Profits reflected positively Cryptocurrency news. We do not focus on whether the token will remain profitable once it hits a critical resistance level.
Ankr is a platform that provides access to the decentralized internet. The network aims to remove the barriers to entry for blockchain by decentralizing control to users and developers. To this end, Ankr provides simple tools and interfaces for Web3 development. ANKR is a native token that powers the ecosystem and aids on-chain governance.
Thursday’s ANKR token rally comes after becoming the first remote procedure call provider on the Sui blockchain. The November 22nd announcement showed that Ankr will now allow developers to create and upgrade dApps on Sui. Ankr will continue to support the Sui mainnet after it goes live. Additional support for documentation, tools and features for Web3 developers is expected. The partnership also opens opportunities for geo-distributed and decentralized RPCs for Sui.
The latest announcement coincides with an increase in Ankr staking. More than 56,000 ETH has been staked in his Ankr staking, according to his Twitter post on November 23rd of the network. Since then, this development has fueled increasing speculation for the network’s native token.
Despite intraday surge, ANKR faces correction at $0.026
Despite intraday gains, ANKR has reached resistance at $0.026. The cryptocurrency is correcting and a bearish pinbar could dip below the key level.
When to buy ANKR?
ANKR Shouldn’t Be On Your List Cryptocurrency Buy despite positive price action. A recovery from the bear market will be confirmed if the cryptocurrency breaks out of the $0.026 support. Buyers should watch out for retracements on the downtrend line.
Conversely, ANKR becomes vulnerable when bearish signals form below major supports. It looks like the price may return to the $0.019 support or below.
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