Will Aragon (ANT) Coin Price Continue its Upward Momentum?

• ANT coin’s price has surged by 5.63% in a week, 2.05% in a month and 169.84% in a year.
• The price is consolidating near its 52-week high level.
• ANT’s coin price is trading above the 50 and 100 Exponential Moving Averages.

Market capital of Aragon coin – $172.942

The current market price of Aragon Coin – $4.321

ANT Coin’s Overview:

In the current trading session, the price of the ANT coin is trading down by $0.0316, a decline of (0.74%) from the previous close. The price has surged by over 5.63% in a week, 2.05% in a month, and 169.84% in a year. It indicates that the price is under reasonable control of bulls over the year and the overall trend of the coin is up.

The ANT coin’s price is trading very close to its 52-week high level and consolidating there from the last three months. The price is trading flat, which indicates that both the buyers and sellers are showing their strengths at the current price. They have failed to trounce each other.

The price formed a base near the area of $1.387 and $1.1995 before starting the rally. 

The coin’s price has melted down about 90% from the high it created on 13 August 2020. It has risen twice when formed a support near the $3 level. It reached $14 and $15 respectively from that level.

Technical Analysis of the ANT Coin

ANT token’s price is facing rejection from the trendline, which is formed by connecting the two lows of the previous trend in 2021. The trendline is shown in the chart below as Trendline Resistance. The price has been trading flat for so long that it faces resistance near the level of $4.481. The support is present near the levels of $3.723 and $3.875.

The coin price is trading just above the 50 and 100 exponential moving averages, which is a bullish sign for the coin. The EMAs’ slope is upward, indicating that the momentum is more robust. If we observe the Relative strength index (RSI), then it is placed above the 50 level. The RSI is slightly coming down as the price is consolidating at a higher level.

The recent consolidation of the price at higher levels indicates that the price is forming a base for another rally. The price is rising but at a bearish angle. It indicates the coin will be fine if the price breaches the lower level.

Conclusion

If the price breaks the upside level, the buyers will try to attempt the level of $6. However, if the price breaks the level on the downside, the sellers will again challenge the levels of $2 and $1.5. Currently, the price is in a consolidation phase, and the Indicators are showing a neutral signal, so the price can also consolidate here for more time.

Technical Level

Resistance – $4.681 and $4.481

Support – $3.852 and $3.723

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.