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Anker Network token emerges after RPC is created for Sui blockchain
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ANKR remains subdued by a resistance
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Tokens may correct despite intraday gains
Anker Network (ANKR/USD) saw an increase in investor interest on Thursday, which pushed the coin up by 6%. profit reflected positive cryptocurrency news. The focus will not shift to whether the coin will sustain gains as it hits a key resistance level.
Anker is a platform that provides access to the decentralized Internet. The network aims to eliminate barriers to entry to blockchain by decentralizing control to users and developers. To achieve this objective, Anker provides simple tools and interfaces for Web3 development. ANKR is the native token that powers the ecosystem and helps with on-chain governance.
The ANKR token made gains on Thursday after Sui became the first remote procedure call provider for the blockchain. The November 22 announcement indicated that Anker would let developers build and upgrade dApps on top of Needle. Anker will also support it once the Sui mainnet goes live. There is additional expected support for docs, tools and features for Web3 developers. The partnership also opens up geo-distributed and decentralized RPC opportunities for Sui.
The latest announcement also coincides with Anker’s growing growth. According to a November 23 Twitter post by the network, more than 56,000 ETH have been staked with Anker staking. There has been an increase in speculation for the network’s native token since the development.
ANKR facing correction at $0.026 despite intra-day jump
Despite intra-day gains, ANKR faced resistance at $0.026. The cryptocurrency is correcting, resulting in a potential bearish pin bar below key levels. Furthermore, the long-term trend for the coin is bearish.
When to buy ANKR?
ANKR shouldn’t be on your list cryptocurrency To buy despite positive price action. The recovery from the bearish market will be confirmed if the cryptocurrency breaks above the $0.026 support. Buyers will still need to be wary of retracements on a descending trendline.
On the other hand, a bearish signal formation below the key support will make ANKR vulnerable. The price will see a move back towards the $0.019 support or below.
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