Should You Buy Ankr (ANKR) Wednesday?

Wednesday, July 05, 2023 12:39 PM | InvestorsObserver Analysts

InvestorsObserver gives Ankr a strong short-term technical score of 93 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. ANKR has currently traded better than 93% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving Ankr a 93 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Ankr!

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Trading Analysis

Ankr is $0.005945 (32.15%) higher than its 30-day low price of $0.018492403 while also -$0.004660 (-16.02%) lower than its high of $0.02909724 from the past month of trading. Meanwhile, ANKR's current price of $0.024437244 is above its average price of $0.022476639 set over the past month of trading, leading to a strong short-term technical score. In summation, the recent trading history of Ankr suggest that traders are currently bullish on the token. ANKR has a average market cap compared to the majority of tokens with a total market value of $244,372,439.23. The market valuation for Ankr is relatively average due to the largest 100 cryptos having a market cap above $1 billion and ANKR sits underneath that mark but remains above $100 million in market capilization. Ankr's average volume is average as $907,626,057.59 worth of the token is typically traded over a 24 hour period. The volume for ANKR is relatively average as the most traded 100 cryptos have roughly $100 million worth of the crypto exchanged over a 24 hour period and a large portion of the market trades at least $5 million worth each day. Over the past 24 hours ANKR's volume is below its average with $123,025,816.38 exchanged. Ankr's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

ANKR's recent trading over the past month give it a strong short-term technical score as its recent price movement give traders reason to be more bullish on the token in the short-term. Click Here to get the full Report on Ankr (ANKR).