ANKR/ USDT / Buy| S6T4 - Team Trading Post for TEAM FRONTLINE

Greeting steemians,

I am very much delighted to share with you more about the ANKR ecosystem cryptocurrency. I am very much excited to take part in this week’s crypto trading contest assignment.
My warm regards to professor @shemul21 for this educative tasks and look forward to many more.
Let’s take a look at the ANKR blockchain where I perform some technical analysis, with which I would enter a trade to make some profits.
Let’s get started

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Introduction

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What is ANKR?

Founded in 2017 by Forbes employees Chandler Song and Ryan Fang, ANKR ecosystem is a decentralized blockchain running on a Proof-of-Stake consensus mechanism, with over 50 network nodes connected globally.
This means that the ANKR blockchain selects validators in relation to their stake on the platform to validate the nodes of the network.

ANKR is the native utility token of the ANKR blockchain which can be used to perform transactions on the blockchain. The ANKR token is high in interoperability just like ERC-20, BEP 2 and BEP-20 tokens.
The ANKR blockchain provides cloud computing service for its users, hence the main aim of the blockchain is to make global cloud computing more accessible.

Since the ANKR blockchain runs on a proof of stake consensus mechanism, the blockchain is secured by the validation of network nodes from highly reputable individuals on the platform,. These individuals are also picked based on their performance and reputation on the platform such that ‘no up to the task person’ is chosen, who could put the security of the platform at risk.

The blockchain also makes use of the Intel SGX software to prevent the system from any attacks.

Currently, the circulating supply of ANKR tokens is 6,496,232,711 tokens with a total trading volume of $49,811,009 USD, and the total maximum supply of ANKR tokens is 10,000,000,000 ANKR.

ANKR is the 105th largest cryptocurrency by market cap and is listed on top exchanges like Binance, Huobi and Coinbase.

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Why Am I Optimistic About This Token And How Long Do I Think It Would Rise

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Considering the problems the ANKR blockchain seeks to solve, which is making cloud computing more accessible, with the rapid technological change we are experiencing in the world right now, and since cloud computing makes readily resources like servers, storage and databases, which the ANKR ecosystem readily makes accessible, this would tend to make the ANKR blockchain very famous which would also have a positive impact on the ANKR utility token price.

Since its inception in 2017, the ANKR utility token has seen a 636.28% return on investment (ROI)
Within this 24hr period, the ANKR token has seen almost an 8% increment.
I therefore made some technical analysis on the ANKR token which made me choose as a suitable cryptocurrency to perform the trade with.

I would talk about the analysis later in this chapter.

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Price statistics of ANKR

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As at the time of writing the price of 1 ANKR token was $0.928 with a 24 hr volume of , a circulating supply of $139,612,194, a market rank of #105, a market cap of $757,485,561 and a current circulating supply of 8.16 BN ANKR.
Its price at its all time high about a year ago was $0.2252 which was on March 28, 2021. Whiles it’s all time low was on March 13, 2020 which is almost exactly a year before it’s all time high.

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Analysis of the token

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In this regard, I would be using the Moving Average (MA) indicator in conjunction with the Relative Strength Index ( RSI) to perform this technical analysis.

From the screenshot of the ANKR/USDT chart, using 2 moving average lines (20 and 50 MA), when the 20 MA line crosses above the 50 MA line, it is termed as the ‘Golden Cross’, which indicates an uptrend is apparent. True to this, we can see from the screenshot that as soon as the the Golden Cross crossover appears, the price of ANKR starts to uptrend.

The RSI is also a technical momentum indicator which is used to determine overbought and oversold market signals on the market.
The RSI indicator range from values of 0-100.

A 0-30 RSI value indicates that the asset is oversold Whiles a 70~100 RSI value shows that the asset is overbought, hence a downtrend is likely. From the screenshot, we can see that the RSI indicates a value of above 50 further confirming more bullish position.

The screenshot of the transaction is below

Transaction screenshot


Transaction screenshot


Transaction screenshot

Do you intend to keep it for a long time or when to sell it?

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As the main aim of the ANKR ecosystem is to make cloud computing more accessible, I see that in the long term, this achievement would make the ANKR blockchain famous, which would in turn have a positive impact on the utility token ANKR since more people would start to use it as it gains popularity.
So to me I intended keeping it as I believe the token has a massive upside potential in years to come.

My Recommendations On ANKR

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I see the ANKR blockchain as a project with a very great potential in years to come. As soon as the masses start to use this blockchain.I would therefore urge any investor or trader in the crypto space to acquire some of ANKR utility token as it would be valuable in years to come, which would profit any investor who invested in it.

Conclusion

In conclusion I would like to say that this has been a very educative lecture from team frontline which has given me the opportunity to research and learn more about a prospective project like ANKR.
I have really learnt a lot. Kudos to professors @shemul and @abdu.navi03. Looking forward to your next lecture.
Thanks for your time.