Ankr price prediction: ANKR outlook after Microsoft and Tencent partnerships

  • Ankr (ANKR) price is up 70% this past week, while positive news has helped its value more than double on the 30-day timeframe.
  • Ankr has struck partnerships with Microsoft and Tencent.
  • The price outlook for ANKR is a potential retest of the resistance line at $0.058 and move higher, or a flip to recent demand zones.

The Ankr (ANKR) price soared to its highest price since August 2022, with bulls pushing past $0.05 to test a major resistance area.

While the token has pared some of the gains on Wednesday, the massive daily candle seen on Tuesday has helped to maintain weekly gains at 70% and 30-day gains at over 100%.

Ankr price forecast amid mega Microsoft and Tencent partnerships

ANKR’s breakout to highs of $0.058 happened as tech giant Microsoft announced a partnership with the blockchain platform. 

As covered by CoinJournal, the deal between Ankr and Microsoft is set to offer node services, and will focus on making it easy for enterprises and organizations to access blockchain data.  Microsoft will support the service via its Microsoft’s Azure marketplace.

The partnership with Microsoft comes on the back of another major collaboration with Tencent Cloud. In an announcement, the company said it has signed a Memorandum of Understanding (MoU) with the Web3 infrastructure provider. The partners will jointly work on a “suite of blockchain API services” as they help power Web3 growth.

The news has greatly aided ANKR price action over the past two days, with the cryptocurrency now trading roughly 40% higher since the huge candle on Tuesday.

What’s next for the Ankr (ANKR) price?

The ANKR price is up about 6% on Coinbase as of 13:30 ET on 22 February and is changing hands around $0.049.

While it has decreased from yesterday’s highs, the price is still near a key resistance line and a breakout could see it not only retest the $0.058 supply wall, but offer bulls a likely target to early May and early April resistance lines at $0.066 and $0.100 respectively. The daily and weekly RSI indicators are trending bullish to support this outlook.

Ankr price chart showing major gains in the past two days. Source: TradingView.

But if the price turns bearish short term, a revisiting of old recent demand zones at $0.031 and $0.015 could be in play. Matthew Dixon, CEO of crypto ratings platforms Evai predicts ANKR price could even dip to its all-time low.

All Dutch and English crypto news!

Why is Cardano price up today?

Cardano (ADA) rallied to its best price level in a month as cryptocurrency investors prepared for the Federal Reserve's looming interest rate decision. Fed boosts appetite for...

PBW 2023 explores the current state of the blockchain space

A panel of professionals working in prominent tech companies discussed the current state of the blockchain space at the ongoing Paris Blockchain Week 2023 conference.  Cointelegraph's...

Tim Draper sings a Bitcoin song dedicated to SVB and world governments: PBW 2023

American venture capital investor and entrepreneur Tim Draper took the master stage at Paris Blockchain Week 2023 to give his keynote speech on, "The Decentralization...

Cathie Wood’s ARK sells Coinbase stock for the first time in 2023

Cathie Wood's investment management firm ARK Invest is moving to take profits from its Coinbase shares, selling its first batch of Coinbase stock in 2023. On...

Beste exchanges

Koop je crypto bij Bitvavo