• 17 July, 2024
News

ANKR Crypto Surges by 37% After Microsoft Partnership

ANKR network has announced in its official blog post the launching of a reliable node hosting service for blockchain data in partnership with Microsoft. Microsoft’s collaboration with Ankr is designed to offer a wide range of infrastructure solutions that will bridge builders, applications, and users together on the revolutionary Web3 layer.

With the vast knowledge and expertise of Ankr’s team in blockchain technology, Microsoft is able to take its mission further than ever before – to empower people and organizations to achieve more.

This partnership is intended to provide powerful blockchain connections for the collaborative effort of creating experiences on Web3 that will attract a new wave of users. The goal is to welcome one billion people into these opportunities, allowing faster and better access than ever before.

The news of the partnership came out at the same time as a surge in ANKR Crypto’s price, which has seen an increase of over 37% in the last 24 hours. This unexpected jump shows the potential for investment in web3 infrastructure and could be interpreted as a sign that investors are optimistic about the future of this technology.

ANKR price action: Coinmarketcap

ANKR/USD Recent Price Analysis

Upon the announcement of the partnership with Microsoft, ANKR’s price spiked from a low of $0.0333 and rose sharply to $0.04644, where it has currently stabilized. ANKR/USD pair has formed a bullish flag on the daily chart and has broken out from the flag pattern in a strong trending move.

ANKR/USD 1-day price chart: TradingView

The next resistance level for ANKR/USD pair is seen at $0.0580, and if it can break this level, then the price would be looking to test the highs of $0.0700. The price of ANKR has climbed above the EMA20 and EMA50 on the daily chart, indicating further bullish momentum.

The Relative Strength Index (RSI) is highly oversold, at 80.74, and is now seeing a trend reversal. The Stochastic RSI is also exhibiting a bullish market as the oscillator crossed above the 50 levels.

On the 4-hour chart ANKR/USD price analysis, the bulls have taken a breather near the $0.05 level after a strong bullish move and could continue with the momentum if buyers can break through this resistance zone. The major resistance level of $0.0700 may be tested in the coming days if buyers maintain their momentum.

The support levels present at the Fibonacci retracement levels of $0.042 and $0.036, respectively. If bears take control of the market, then these support zones may be tested in the short term.

Following the recent development, the ANKR crypto price is expected to maintain its bullish trend in the medium to long term. With Microsoft’s support and its infrastructure solutions, WEB3 adoption will likely accelerate, which should drive a sustained increase in demand for ANKR crypto tokens.

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