ANC, ZEC, CVX Rides Bullish Momentum Reversing Bearish Trend
- The Anchor protocol is now hanging around the new all-time high.
- Following a period of consolidation, Zcashimmediately rose to a new high point.
The ongoing geopolitical tensions have benefited the crypto market as major coins ended the bloodbath and recovered most of the losses. Let us take a look at ANC, ZEC and CVX who have performed well and are now trading in green.
Anchor Protocol (ANC)
Anchor Protocol opened the 2022 trading session on a gloomy note, with its price plummeting by more than 70%. However, since the beginning of February, the asset has paused in the downward trend and has experienced a significant reversal. Since then, the Anchor protocol has maintained a reasonable upward trend, which has persisted till the time of publication. Although the price had several pullbacks, the 38 percent increase since March 2022 has ended the gloomy situation. The asset is now hanging around the new all-time high, and it may reach new highs shortly.
Zcash (ZEC)
ZCash, like many other cryptocurrencies, saw a rapid decline shortly after the start of the 2022 trading period. Following a period of consolidation, the asset immediately rose to a high point, which was then challenged and flipped down to the lower levels. With a 25 percent increase in value from the beginning of the current month’s trading, the ZEC price has been on an upward trajectory since its inception in March 2022. It is capable of ranking among the top gainers in cryptocurrency.
Convex Finance (CVX)
Convex Finance saw a significant rise in the last couple of hours, briefly reversing the downward trend. However, the worry of a further decline in the asset’s value remains, even though most sellers may have taken their gains. Currently, the CVX price is going in a similar direction to how it did before the oil price surge. As a result, another surge may be more marked and rare with lower volatility.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
