Key Takeaways
ANKR’s attempt at a bullish trend revealed at the end of 2024 was unsuccessful. The price fell by nearly 60% in 2025, reaching a new yearly low of $0.00167.
Last week, the ANKR price broke down from a long-term pattern amid a broader crypto market selloff. This put the ANKR price at risk of breaking down from its main horizontal support area, accelerating its correction.
The key question is: Will ANKR break down, or is an overdue bounce on the cards?
ANKR Price Breaks Down
The weekly time frame chart shows that ANKR increased inside an ascending parallel channel since the bull run started. After validating the channel’s support and resistance trend lines numerous times, ANKR finally broke down last week.
Parallel channels usually contain corrective movements, something becoming even more likely since the most recent high was a lower high that failed to reach the channel’s resistance trend line.
In fact, the channel movement resembles a lengthy head and shoulders pattern, from which a breakdown has occurred.
Currently, the price trades inside the $0.0170 horizontal support area. Falling below this level could trigger a massive plunge since there is no support until $0.0060, 75% below the current price.
Technical indicators are bearish. The Relative Strength index is at 36 and falling. The Moving Average Convergence/Divergence (MACD) has made a bearish cross and is negative.
As a result, the weekly time frame predicts a bearish ANKR crypto price, indicating that a breakdown is likely.
What’s Next for ANKR?
The long-term wave count gives a similar bearish prediction. The count shows that ANKR started a five-wave downward movement (red) after its all-time high in 2021, which ended in January 2023.
If that is the case, ANKR has started a new five-wave downward movement that will take it to new lows. This count fits with the breakdown from the channel since it confirms that the movement inside was part of a corrective structure.
Looking for a safe place to buy and sell ANKR? See the leading platforms for buying and selling ANKR.
In this count, ANKR is in wave three of the five-wave downward movement, which is usually the sharpest part of the decline.
This fits the price action since a breakdown from the $0.0165 support area could accelerate the downward movement to new lows.
If the downward movement has the same length as the previous one, the ANKR price will reach a bottom at $0.00465.
While the main horizontal support is at $0.0065, this could act as a temporary bottom for wave three, while wave five could take the price to new lows.
On the other hand, moving back inside the channel’s confines will invalidate the count, suggesting that the price is still mired in a correction.
This seems unlikely because of the considerable resistance above the current price and bearish wave count.
Bearish ANKR Trend
ANKR broke down from a bearish pattern last week, confirming it is in a long-term downward trend.
A weekly close below $0.0165 could accelerate the downward movement toward the next support at $0.0065.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Was this Article helpful?
