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Anchor Protocol rebounds sharply after falling 70% in just two months — what’s next for ANC?

The total value locked inside the Anchor Protocol’s liquidity pools reached an all-time high earlier this week.
Anchor Protocol (ANC) returned to its bullish form this May after plunging by over 70% in the previous two months. Pullback risks aheadANC’s price rebounded by a little over 42.50% between May 1 and May 6, reaching $2.26, its highest level in three weeks. Nonetheless, the token experienced a selloff on May 6 and May 7 after ramming into what appears to be a resistance confluence. That consists of a 50-day exponential moving average (50-day EMA; the red wave) and 0.786 Fib line of the Fibonacci retracement graph, drawn from the $1.32-swing low to the $5.82-swing high, as shown in the chart below.ANC/USD daily price chart. Source: TradingViewA continued pullback move could see ANC’s price plunging towards its rising trendline support, coinciding with the floor near  $1.67 that preceded a 175% price rally between F

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We współpracy z: https://cointelegraph.com/news/anchor-protocol-rebounds-sharply-after-falling-70-in-just-two-months-what-s-next-for-anc

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