Market & Ticker: ANCHOR - ANKR/USDT
Horizon / Timing: Mid-term / 1 to 3 months
ANKR confirmed recently a larger upside potential with the Double Golden Cross on Moving average before accelerating and reached our target at 0,059. In this analysis we are updating the Tactical Support to watch to keep a positive outlook.
At the current level, we expect a further bullish move towards 0,066 (+34%) at first and in extensions 0,1 (+100%) as long as 0,038 (-23%) remains a valid Tactical support in Daily close.
Technical Key Elements:
- The RSI indicator is above 50% and keep room to upside
- The Moving average crossed to the upside: Double “Golden” Cross
- The Fibonacci key support is adjusted at 0,038 as tactical support while the Elliot wave shows upside potential towards 0,066 in wave (3)
Trade Idea conclusion:
|Buy - Conviction||Medium|
Target 2: 0,1 (+100%)
Target 1: 0,066 (+34%)
Buy: add in dip area 0,049
Stop: 0,038 (-23%)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)