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

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

Anchor Protocol (ANC) returned to its bullish form this May after plunging by over 70% in the previous two months.

ANC’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.

ANC/USD daily price chart. Source: TradingView
Anchor Protocol TVL. Source: DeFi Llama