The Ankr (ANKR), price has risen 70% in the past week. However, positive news has helped to increase its value by more than twice over the same period.
Ankr has formed partnerships to Microsoft and Tencent.
ANKR’s future price outlook includes a possible retest of $0.058 resistance and move higher, as well as a switch to recent demand areas.

The Ankr (ANKR price shot up to its highest level since August 2022. Bulls pushed past $0.05 to test major resistance.

Although the token has lost some of its gains from Wednesday, Tuesday’s massive daily candle has helped to maintain weekly gains of 70% and 30% respectively.

Ankr price forecast in 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.

The deal between Ankr, Microsoft and CoinJournal will provide node services. It will also make it easy for organizations and enterprises access to blockchain data. Microsoft will support the service via its Microsoft’s Azure marketplace.

Microsoft has partnered with Tencent Cloud to create a new partnership. An announcementAccording to the company, it signed a Memorandum of Understanding (“MoU”) with Web3 infrastructure provider. The partners will jointly work on a “suite of blockchain API services” as they help power Web3 growth.

ANKR has seen a significant increase in price action over the last two days. ANKR is currently trading approximately 40% higher than Tuesday’s huge candle.

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

Coinbase reports that the ANKR is up 6% and changing hands at $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. This outlook is supported by bullish RSI indicators that are both daily and weekly.

Chart of Ankr prices showing significant gains over the past two days. Source: TradingView.

If the price is bearish in the short-term, it could be possible to revisit old demand zones at $0.031 or $0.015 in the future. Matthew Dixon, CEO at Evai crypto rating platforms predicts ANKR prices could drop to their all-time low.

#ANKR At the current high of 0.0585, there will be some resistance. If this fails, then next resistance is at $ANKR In the final C wave, 0.0669 should drop to challenge the old all-time low #Evai pic.twitter.com/eXeGRfASVb

— Matthew Dixon – CEO Evai (@mdtrade) February 22, 2023