$ANKR$: Neutral [Price Projection]

What happened: $ANKR$ broke descending trendline on Jan. 23 and experienced price rejection at the weekly closing price of 0.02839 [Feb. 08 - 15, 2021], then it retraced back to a previous demand zone [0.02514 - 0.02307] spotted between Jun. 13 - 19. Next, it rebounded and saw rejection at a demand zone [0.3543 - 0.03363], now turned supply zone, spotted between May. 18 - 19. Since then, a bearish engulfing candle was spotted on Feb. 12, and on the same day, $ANKR$ closed below the 200EMA, implying the bullish trend started in January has started to get shaky.

What will happen: If $ANKR$ closes below the support zone [0.02816 - 0.02791] on the daily, then it’s very likely it will find support at the 25EMA [0.02743], and from there it may fall further to the next support zone of 0.02586 - 0.02514. Here it should find significant rejection based on the Volume Profile indicator which shows a volume spike. On the contrary, if $ANKR$ is able to consolidate above the support zone of 0.02816 - 0.02791, then it’s very likely it will rebound and retest the supply zone of 0.3543 - 0.03363.

The Medium-Term Play: 2-4 weeks
5-to-1 PL Ratio.
Entry: 0.02622; Target: 0.03890; SL: 0.02374.

Daily Resistance Zones

1. 0.0291 - 0.0293
2. 0.0297 - 0.0309
3. 0.0336 - 0.0351

Daily Support Zones

1. 0.0284 - 0.0279
2. 0.0275 - 0.0269
3. 0.0265 - 0.0259

TA Methodologies:

1. Supply & Demand Theories
2. Price Momentum
3. Fibonacci Retracements & Extensions SR Zones
4. Trendline Breakout
5. RSI Movement Strengths