ANT Technical Analysis: Morning Star Teases A New Bull Cycle 

Key technical points:

Past Performance of ANT

ANT prices show a sharp fall in market value in the last two months resulting in a downfall from $6 to $1.20. However, the bearish death spiral takes a lateral shift in price trend resulting in the consolidation range between $1.20 and $2.17. The recent surge in buying pressure starts a second bullish reversal from $1.20 and teases a price jump to $2.17.

Source- Tradingview

ANT Technical Analysis

The recent increase in buying pressure is evident by the increase in ANT trading volume supporting the price jump today. Moreover, the morning star pattern forming with a bullish engulfing candle adds points to the price jump theory. The daily-RSI slope shows a rounding bottom reversal from the oversold boundary to challenge the 14-day SMA line. Moreover, the bullish divergence in the last two dips at $1.20 is evidently clear, indicating a potential uptrend continuation.

The MACD indicator displays the fast and slow lines merging below the zero line and ready to gain a bearish spread. Hence, with an increase in negative histograms, traders can expect the start of a falling trend in MACD. So the technical indicators remain divided over the upcoming trend making the traders shift to the price action confirmation. In a nutshell, the ANT technical analysis displays the possibility of a morning star pattern reversing the trend if sellers fail to overtake the trend overnight.

Upcoming Trend

Suppose the selling pressure cracks the reversal pattern; a downfall below $1.20 will plunge ANT prices by 20% to reach the $1 mark. However, a bullish reversal will inflate the market value by 40%, matching the overhead resistance at $2.17.

Resistance Levels: $2 and $2.17

Support Levels: $1.20 and $1