Moving towards the channel’s lower boundary
ANKR is trading within a descending channel, indicating strong selling pressure. The price is nearing the channel's lower boundary, with possible scenarios including a rebound towards the channel’s ceiling or a break below the lower boundary, reinforcing the downtrend.
9/4/20241 min read
ANKR is trading within a descending channel and is experiencing a strong downtrend. This trend indicates selling pressure in the market, and the price is currently moving towards the channel’s lower boundary. This movement suggests that buyers have not yet been able to reverse the trend within this channel.
One possible scenario is that ANKR’s price moves towards the lower boundary of the descending channel and, after reaching this level, rebounds towards the channel’s ceiling. This movement could indicate fluctuations within the channel and provide an opportunity for buyers to enter at the lower boundary and benefit from a price rebound.
If selling pressure continues and buyers are unable to support the price, ANKR may break through the lower boundary of the channel and move to lower levels. This scenario could reinforce the downtrend and lead to further price declines.