Sellers appear to be panicking near the demand zone
Anchor Protocol is up 16% in an intraday trading session, and buyers appear aggressive near a bullish trendline.
Anchor Protocol saw an incredible 545% liquidations in the last 24 hours.
The ANC token is trading above key moving averages, including the 200 EMA , in terms of the daily price chart.
ANC token is trading above vital day moving averages including 20,50,100 and 200 EMAs in the context of the daily price chart. But still, the daily candle remains to close above the 200 EMA line.
During recovery, the daily RSI has breached half-line (50-points) and is approaching the overbought territory, which is a pretty good sign.
The average directional index is moving at 18-point, suggesting slightly weak momentum for the ANC token.
Anchor Protocol is trying to lure back token buyers who are more likely to like the bullish trend . But still, the 0.5 Fibonacci retracement level (near the $4.0 mark) could affect the bullish trend of the ANC.
Resistance level- $4.0and $6.4
Support level- $2.50 and $1.2
