Anchor Protocol (ANC) broke down from a crucial support level on May 5 and reached a new all-time low price on May 11.
ANC has been decreasing at a very fast pace since reaching a high of $6.20 on March 5. On April 30, it initially bounced above the $1.70 horizontal support area (green icon). This is an important area since it had been providing support since Aug 2021.
However, the bounce was short-lived and the price broke down from the area on May 9 and has been falling at an accelerated rate since.
So far, ANC has reached a low of $0.143 on May 11. Measuring from the March high, this is a decrease of 96.66%.
Will ANC bounce?
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