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Ankr (ANKR) Nearly Doubles In Price In a Day: Biggest Weekly Gainers

Be[In]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 5 to 12.

The post Ankr (ANKR) Nearly Doubles In Price In a Day: Biggest Weekly Gainers appeared first on BeInCrypto.

Be[In]Crypto takes a look at the five cryptocurrencies that increased the most last week, more specifically, from Aug 5 to 12.

These cryptocurrencies are:

  1. Celsius (CEL) : 93.59%
  2. Ankr (ANKR) : 50.59%
  3. Decred (DCR): 29.33%
  4. Near Protocol (NEAR) : 26.58%
  5. Nexo (NEXO) : 23.66%

CEL

CEL had been decreasing underneath a descending resistance line since Jan. 1. This downward movement led to a low of $0.09 on June 13. 

The price has been increasing since and managed to break out from its descending resistance line on the third try (red icons). The breakout occurred on Aug 8. Moreover, CEL reclaimed the $2.10 horizontal area. 

If the upward movement continues, the next closest resistance area would be at $3.45.

Ankr (ANKR) Nearly Doubles In Price In a Day: Biggest Weekly Gainers
CEL/USD Chart By TradingView

ANKR

ANKR has been gradually moving upwards since June 18. It created a higher low on Aug 10 and increased sharply the next day, leading to a high of $0.058. 

Despite this considerable increase, ANKR failed to reclaim the $0.0535 area, which is now acting as resistance (red icon). The area has previously provided support since June 2021 (green icons). 

So, ANKR has to reclaim this level in order for the bullish trend reversal to be confirmed.

ANKR daily
ANKR/USDT Chart By TradingView

DCR

Similarly to ANKR, DCR had been following a descending resistance line. So far, it has made four attempts at breaking out (red icons). 

Unlike ANKR, the price has yet to break out, creating long upper wicks and being rejected each time (red icons). Until it manages to break out, the trend cannot be considered bullish.

DCR resistance line
DCR/USDT Chart By TradingView

NEAR

NEAR had been increasing inside an ascending parallel channel since June 18. It broke out from it on Aug 5 and returned to validate it as support two days later (green icon). Since then, NEAR has been increasing at an accelerated rate. 

If the upward movement continues, the next closest resistance area would be at $6.45.

NEAR bounce
NEAR/USDT Chart By TradingView

NEXO

Similar to DCR, NEXO has been decreasing underneath a descending resistance line since the beginning of the year. Currently, it is making its fourth attempt at breaking out (red icons). The line also coincides with the $0.95 resistance area.

If a breakout occurs, the next resistance would be at $1.17.

NEXO Line
NEXO/USDT Chart By TradingView

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

The post Ankr (ANKR) Nearly Doubles In Price In a Day: Biggest Weekly Gainers appeared first on BeInCrypto.

Source: Markets – BeInCrypto

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Altcoins

Crypto fund flows suggest ‘continued investor hesitancy’: CoinShares

Crypto funds saw a third straight week of inbound investments last week. However, CoinShares’…

The post Crypto fund flows suggest ‘continued investor hesitancy’: CoinShares appeared first on CoinJournal.

  • Crypto funds saw a third straight week of inbound investments last week. However, CoinShares’ James Butterfill says the low inflows suggest there’s “continued investor hesitancy.”

The crypto market has struggled to tag a positive sentiment, with September again proving a tricky month for bulls as prices remained largely within a long term downtrend going back to November 2021.

So while institutional investors continue to size up opportunities in the digital assets sector, flows into investment products have significantly remained low over the past few weeks.

James Butterfill, Head of Research at digital asset manager CoinShares, says the low inflows seen last week imply a “continued hesitancy” from investors.

Butterfill shared the outlook in the latest edition of the “Digital Asset Fund Flows Weekly Report”, which CoinShares published on Monday.

Crypto funds see third week of inflows

Fund outflows year-to-date are at more than $42 million, with the past three weeks seeing positive flows.

According to Butterfill, the low flows suggest institutional investors are still weighing up the market, particularly given the global macroeconomic environment.

Digital asset investment products saw inflows totaling $10.3 million last week representing the third week of inflows. The flows remain low implying continued hesitancy amongst investors, this is highlighted in investment product trading volumes which were $886 million for the week, the lowest since October 2020,” Butterfill wrote.

Bitcoin recorded minor inflows for a third week in a row, with $7.7 million (short bitcoin saw inflows of $2.1 million). Meanwhile, Ethereum registered $5.6 million in inflows last week to post a second positive week – but short Ethereum products hit outflows of $0.9 million.

Across the altcoin market, negative sentiment saw investors pull $3.5 million. Top outflows were in Polygon, Cardano and Avalanche.

The post Crypto fund flows suggest ‘continued investor hesitancy’: CoinShares appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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