AnySwap price expects to jump 70% as ANY token tests dependable rebound level

Key ANY token Takeaways:

• AnySwap price flashed bullish short-term technicals on the four-hour chart.
• After rebranding into Multichain, the company landed a $60 million seed funding round,

YEREVAN (CoinChapter.com) – ANY price is poised to jump approximately 70% in a setup dubbed the “Ascending Channel.” The latter features parallel trendlines that constrict the price action and drive the price up. The Channel has been instrumental since Nov 19 as ANY token retested both the resistance and the support on multiple occasions.

The latest rebound level retest commenced on Dec 28-30. The four-hour chart demonstrated how the price action slid sideways along the support line. However, the Channel’s relevant nature suggests an uptrend ahead that could take AnySwap price to $29 in the upcoming week.

Also read: Anyswap (ANY) token-now Multichain-stood out with a 34% gain amid a mixed crypto market. 

AnySwap price stood at $17.4 in the European session Thursday as the ANY token traded close to its 20-4h exponential moving average (EMA-20; blue wave on the chart above). The digital asset could seek additional support from the wave and ascend by 70%. The recovering crypto market is likely to catalyze the uptrend.

Moreover, AnySwap – now Multichain – announced a $60 million funding round led by Binance Labs.

Anyswap/Multichain developments

Multichain announced the funding round results on Dec 21. Binance Labs led the $60 million seed funding, joined by Sequoia China, IDG Capital, Three Arrows Capital, DeFiance Capital, Circle Ventures, Tron Foundation, Hypersphere Ventures, Primitive Ventures, Magic Ventures, and HashKey.

The announcement claimed that the support did not end with financial aid. The companies listed above will participate in the “project’s development at a deep level to achieve the common vision for web3.”

Despite the declining ANY price, Multichain reported over 300,000 users, and its TVL stood at over $5 billion. In addition, the company claims to be an “unsurpassed” router protocol in terms of speed, security, and decentralization.

Also read: Bitcoin recent slump part of a bullish reversal pattern? Let's analyze. 

Multichain will use the newly-obtained investment to grow the team and ecosystem. In addition, the research and development team (R&D) will get more funding for crypto algorithms research.

Bill Chin, the Head of Investment at Binance Labs, commented on the company’s active participation in the funding, citing their “shared vision” with AnySwap.

Binance Labs invests in disruptive innovations that have incredible potential to shape the crypto landscape, which is why we are fully supporting Multichain.”

said the executive.