See More

Anchor Protocol (ANC) Reaches New All-Time Low After Sharp Fall

2 mins
Updated by Geraint Price
Join our Trading Community on Telegram

In Brief

  • ANC has broken down below the $1.70 horizontal support area.
  • It has decreased by 96% since its all-time high.
  • The short-term RSI has turned bullish.
  • promo

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?

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here

Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Valdrin-Tahiri.jpg
Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
READ FULL BIO
Sponsored
Sponsored