Should I buy ANKR in December 2021?

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Dec 2, 2021
  • ANKR has weakened from the recent highs
  • The first resistance level stands at $0.18
  • Ankr is a great choice for developers

ANKR/USD has weakened from $0.21 below $0.14 since November 27, and the current price stands at $0.14.

The cryptocurrency market is advancing this Thursday, Bitcoin has stabilized above $55000, but according to rules of technical analysis, ANKR remains in a bear market.

A powerful tool for developers

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Ankr is the platform that combines node infrastructure, staking, and decentralized finance (DeFi) to make developing and earning easy.

Ankr is an incredibly powerful tool for developers, and it enables them to build Web3 products instantly while the DeFi movement creates the financial system for Web3.

The web3 movement is about decentralized applications, protocols, and smart contracts, and by cutting out intermediaries, builders gain back control over their applications and data.

In this way, Ankr reduces costs for everyone to participate in Web3 and allows easy access to an array of blockchains.

Ankr is also a great solution for cryptocurrency investors looking for attractive reward mechanisms and instant staking liquidity.

With Ankr, investors can earn a higher rate of return over traditional staking, stake as little as 0.5 ETH, and pool with other stakers while enjoying the same ROI.

Ankr’s Eth2 staking solution provides the best user experience, you can send all ETH in only one transaction, and the protocol will automatically allocate your funds to the best pools.

Many important projects already collaborate with Ankr, and the most popular ones include the Graph, Celo, and Compound. Calvin Liu, Strategy Lead at Compound, said:

Ankr’s Compound API is a winner. It is intuitive, secure, and cost-effective, enabling all wallet providers and exchanges to gain easy access to the interest rate protocol.

ANKR is a token of Ankr Network that acts as a payment method on the platform and will play an important role in Ankr’s decentralized staking protocol. ANKR is available on many exchanges, while you can find a full list on the official website of Ankr.

Bears in control of ANKR

ANKR has achieved an impressive gain last trading week, and it has reached highs above $0.20 on November 27. ANKR is currently down more than 30% from its recent highs, and the risk of further decline still persists.

Data source: tradingview.com

ANKR remains in a bear market, and if the price falls once again below $0.14 support, the next price target could be around $0.13 or even below.

The first resistance level stands at $0.18, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $0.20.

Summary

Ankr is a global, distributed network of nodes across 50+ proof-of-stake chains that brings two movements together: web3 and decentralized finance (DeFI). This project aims to make Web3 easy to use for everyone, and there are already many important projects that collaborate with Ankr.

Where to buy right now

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