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Should AKT break above the $3.00 level and sustain above it on In the year-to-date (YTD) period, AKT displayed a strong bullish trend with a consistent uptrend. This consistent positive movement drove up the price to $6.50 by the first quarter of 2024. Thereon, AKT's price experienced 5-month strong sell-offs from profit bookers from its elevated levels, leading to a decline towards the $1.80 mark by August 5th. However, the price has found a strong support zone at this level. It tried to form a higher high swing from this zone, which failed due to strong bearish pressure. The AKT crypto noted a 25% drawdown in the last 14 days, which has considerably impacted investors. The rejection met around the $3 mark, trapped the bulls and smashed its price back to the demand zone. At press time, AKT's price traded at $2.32, with an intraday decline of 4.8%. Its market cap has declined, reaching $581.2 Million, and it witnessed a 25% decline in spot volume inflow. The volume amounted to $8.054 Million, and the market cap ratio was 1.44%. This defines its weak liquidity, which could trouble trading activity due to a lack of liquid present. Should AKT break above the $3.00 level and sustain above it on the daily chart, the possibility of flipping the current trend might surge. Such a spark in price would potentially attract more investors, reinforcing the bullishness and potentially driving the AKT to new elevations. However, failure to sustain the current demand zone under bearish dominance could lead AKT to plunge even more. Therefore, based on price structure, the support lies at $2.0 and $1.821, followed by the resistance levels of $3.0 and $3.86, respectively.

by Yash_Jain_1309

Akash Network (AKT)Akash Network (AKT) Akash Network emerged as the third most underperformer cryptocurrency of the week losing nearly 18%. Akash Network started the week on a positive note however the bulls could not capitalize the gains and the price loomed below. The daily chart indicates the formation of a declining channel pattern with the price rolling between the upper and lower boundary of the channel. At the time of writing, the decline in the price continued with AKT hovering close to $2.28. This consistent downwards pressure indicates a challenging week for Akash Network as the crypto struggled to find support. Additionally, the trading volume for AKT has significantly dropped, declining by nearly 59.7% a day to 5.884 Million. The reduction in trading activity highlights that the market interests have dropped contributing to overall price decline.

AKT price has traded at $2.69, ranking 87th Over the past year, the AKT cryptocurrency has shown a strong bullish trend in the larger timeframe analysis, with its price following a consistent upward trajectory. This consistent positive movement drove up the price, reflecting positive market sentiment towards the token. AKT PriceAKT Token Daily Price Chart | Source: Tradingview Recently, the AKT price experienced profit booking from its elevated levels, leading to a decline towards the $1.80 mark. However, the price has found support at these lower levels, forming a higher high swing, which often signals a potential reversal. Recently, the price of AKT has seen profit-taking from its elevated levels, leading to a dip towards the $1.80 mark. However, its price has found support at these lower levels and has formed a higher high swing, which often indicates a potential reversal in the price trend. Should AKT break above the $4.00 level and closes above it on the daily chart, it could signal the beginning of another surge. Such a breakout would potentially attract more buyers. Thus, reinforcing the bullish trend and potentially driving the AKT to new highs. Earlier this year, AKT peaked at the beginning of 2024 before experiencing a significant drop. However, the recent formation of support near a notable buying zone suggests a potential rebound, where an earlier boost was witnessed. On the daily chart, the 50-day and 200-day EMAs (Exponential Moving Averages) have traded in what is known as a death cross, while the token price advanced above the 50-day EMA. This indicates volatility in the AKT price which might lead to potential uncertain moves in the future. At the time of writing, the AKT price has traded at $2.69, ranking 87th with a market cap of $668.93 Million. The MACD and the signal line traded in a golden cross with a histogram at 0.0314 and were headed toward the bullish trajectory. This might lead the AKT price to bullish momentum in the future if the increase continues. Likewise, the RSI was at 48.73 and sustained above the 14-day SMA. Therefore, based on price structure, the support lies at $0.541 and $1.821, followed by the resistance levels of $5.01 and $7.01, respectively.

by Yash_Jain_1309

AKT had peaked in the beginning of 2024, but Akash Network known as a marketplace based on cloud-computing, where cloud resources could be bought and sold by users using the AKT as payment method. It has a pretty straightforward model and the reason for harbouring interest in the asset by many. As the users that are in need of cloud-computing could purchase resources hassle freely from those that are having a surplus capacity in a setup of peer-to-peer. The platform has attracted both businesses and individuals by offering decentralized storage and asset ownership at a lower cost. The AKT had peaked in the beginning of 2024, but plummeted thereon majorly. However, the recent support formed near at an interesting buying zone, where earlier boost had been witnessed. As if writing, it has traded at $2.56, ranked 86th with market cap of $647 Million and a asset worth a watch among top 100 assets.

by Yash_Jain_1309

Akash Network Continues To Lose: Analysts Still Remain Hopeful Akash Network Continues To Lose: Analysts Still Remain Hopeful The social sentiments have noted an upswing suggesting increasing user engagement. The daily chart highlights the formation of a falling wedge pattern with two converging declining trendlines. While the broader crypto market took a rebound and managed to snap off the losses in the last couple of weeks. On the other side, Akash Network has been struggling for a firm footing in the recent months. The AKT price has been in a correction phase since Mid may 2024 after suffering from $6 levels. The AKT/USD price action highlights a major double top pattern formation after which triggered a selloff leading to a 52% decline from the highs. Despite the price correction, few analysts have turned hopeful for August as the few on chain metrics have started to improve. As per the analysts, these on chain metrics points to a possible recovery ahead. Social Metrics Highlights A Positive Shift. Akash Network has underperformed broader markets in the short term, cumulating a loss of nearly 8% a week and over 19.8% a month. Though the price has not hit any fresh lows in the past two months, the absence of bulls in the market highlights the formation of a sideways trend in the market. However, few analysts are being hopeful for Akash Network in August due to a positive development in on-chain metrics: social dominance and social volume. The social dominance and volume curve have been headed higher suggesting an improvement. Social dominance and social volume data encompass Twitter news, follower counts, and active users on platforms like Telegram and Twitter (X). This data reflects how much the crypto is discussed, valued, and sought after by the community, indicating its popularity, activity, and demand among users. Akash Network Price Forecast: Better Days in August? The price action analysis indicates a prevailing correction for the last three months. Moreover a falling wedge pattern was observed on the daily chart with two converging declining trendlines. Currently, Akash Network price seems to be struggling with a current price range between $2.86 and $3.64. The price currently stands nearly 20% below the 200 days Exponential moving average showing that bears are in control. On the higher side, the overhead trendline is the most challenging zone for the buyers. Now, if the bulls are able to surpass the trendline resistance, it may validate a bullish breakout marking an end to the correction phase. On the contrary, a break below $2.65 may invalidate any bullish scenario and the price may then head for a fresh low towards the $2.5 level and $2 levels. Akash Network has seen short-term losses of nearly 8% weekly and over 19.8% monthly suggesting a correction phase. Despite this, analysts are optimistic for August, citing improvements in on-chain metrics like social dominance and volume. These metrics, reflecting activity on platforms like Twitter and Telegram, indicate increased community interest. Currently, AKT price hovers in a range formed between $2.86 and $3.64 and was 20% below the 200-day EMA, showing bearish control. A bullish breakout could occur if the price surpasses the overhead trendline, while a drop below $2.65 could lead to new lows.

What Does AKT Price Structure Highlights On Daily Time Frame What Does AKT Price Structure Highlights On Daily Time Frame? Let's Decode! The AKT/USD on Coinbase opened at $5.50 on March 19th, 2024. The current price has traded nearly 37% down, and from the peak generated of $6.90 on April 23rd, AKT traded nearly 50% down. While it attained its lowest on the chart on June 18th, 2024, at $2.434, and from this low, the AKT has traded nearly 35% higher. Looking at a broader picture, it represents a bullish pattern breakout, precisely the falling wedge pattern, where the breakout popped out on June 28th, 2024, and rose briefly until $3.95. Where this brief upward journey got a brake as BTC slipped fast, and by July 5th, the price dipped back to $2.45. From there onwards, the BTC sustained, and so did the broader market and AKT. However, due to the lack of liquidity present, the price trades beneath the 50-day EMA, acting as one of the dynamic interactions flowing with a price. However, some bull's presence has been observed on the chart, and the MACD had a bullish cross. The RSI stands top of 14-SMA at 49.30. Thus, the indicator signifies that there is slight bullishness with low liquidity, keeping the asset in a sideways range.

by Yash_Jain_1309

Akash Network Records $1 Million Inflow As Price Soars 22%Akash Network Records $1 Million Inflow As Price Soars 22% The Open Interest has surged by almost 100%, rising from $1.06 Million to $2.04 Million. AKT price noted a rise of over 72% in the last three sessions indicating a sharp comeback from the lows. Akash Network Price has noted a comeback rising over 22% after retracing the demand zone. Earlier, the price suffered the impact of broader market's bearish cues and crashed from the $4 level. The recent comeback by the bulls validated the $2.65 support zone as the price bounced back after retracing it. Moreover, the Open interest has surged by a significant value indicating a buyers comeback. However, the price still suffers below the key exponential moving average of 50 day and 200 day indicating a bearish trend prevailing on the charts. Let's analyze the further trajectory of the crypto for the upcoming weeks analyzing all these metrics. Akash Network: Significant Growth In Open Interest Akash Network saw a significant decline in its value in mid May to mid June. In the same period the Open Interest plummeted from $2.35 Million to a low of $1 Million. However, the recent open interest curve has taken a positive shift which helped the AKT price recover to some extent. The Open interests have surged by nearly 100% to $2 Million at the moment. The significant surge in the number of outstanding contracts or positions held by the investors suggests an increased market activity or a positive shift in the sentiments. Meanwhile, the transaction volume has noted a growth of over 10% today highlighting an increased demand. The live market cap stands at $858.2 Million at the moment. Akash Network Investors Are Skeptical The recent sessions have observed a price movement in a range formed by $2.65 as support and $3.8 level as resistance indicating a skeptical mood of the Investors. However, a decline followed by a consolidation indicates the waning interest of the sellers. Now, until the Akash Network price is maintained in the range formed, it may continue to show a sideways and indecisive trend. The breakout above the $3.8 level or a breakdown below the $2.65 level may indicate a clear trend. At the current moment, the price hovers below the key 50 and 200 day exponential moving average. The bulls need to surpass the recent hurdle of 50 and 200 days in order to make a bullish reversal. What’s Ahead For Akash Network? Akash Network price has rebounded by over 22%, signaling a potential recovery in the recent sessions. Open Interests have doubled to $2 Million, reflecting a positive market sentiment and increased activity. Currently, AKT price fluctuates between $2.65 support and $3.8 resistance, showing a skeptical mood of investors. A breakout above $3.8 or a breakdown below $2.65 may clarify the trend. The market awaits a decisive move from the bulls to confirm a trend reversal.

AKT Crypto Kicks Out From Bottom: A Reversal or Sell on Rise AKT Crypto Kicks Out From Bottom: A Reversal or Sell on Rise Akash Network Jumped Over 23.1% in the last couple of sessions indicating an improvement in the sentiments. Bulls are attempting to reclaim their territory back which they had lost during the recent price crash. Moreover, the long term trend still lies on the bearish side, and it might turn out as a sell on rise opportunity for the bears. The broader market seemed to be extending the losses further this week resuming with the same trend. Major players like Bitcoin and Ethereum incurred a 5-6% losses this week adding it to a total loss of over 10% this month. While the broader market continued to weaken, few cryptocurrencies were found stabilizing near the lows and attempting for a rebound to make a bullish reversal. Akash Network which had been in a strong declining phase in the previous week gathered strength near the lows and was attempting for a bullish reversal. However, the price is yet to reclaim back the bullish territory which adds a sell on rise opportunity for the bears and a risk of losing the gains for the bulls. All in all the crypto seemed to be hovering in a deciding zone from where it would be worth analyzing where it could lead from now. AKT Crypto Volume And Volatility Analysis Akash Network crypto witnesses a notable rise in the last couple of sessions after rising from the bottom. At the time of writing, the crypto was exchanging hands close to $3.59 recording an impressive 9.51% rise in Intraday. Moreover, The crypto has jumped over nearly 22% in the last couple of sessions and has reclaimed its position in the top 100. It now ranks at 77th with a live market capitalization of $884.01 Million. The volume to market cap ratio has jumped over 10.65% indicating mild volatility in the crypto. Looking at the transaction volume shows an impressive growth of 110.8% a day indicating heightened demand. The daily transaction volume has now reached $94.68 Million. Also, it has a circulating supply of 242.10 million AKT tokens against a total supply of 388.5 Million tokens. Can Bears Make A Comeback Again? The recent momentum in the price might have dragged the Bears on the back foot after a rise of over 20% in the last couple of sessions. However, the price still hovers in a bearish territory which adds the risk of a comeback by the bears. Now, if the price resumes with the same momentum it could escape the bearish territory above the $3.87 level. However, if the price loses steam at the recent supply of $3.87, bears might take it as another opportunity to sell and the AKT price may drop soon. From a technical point of view, the AKT price currently hovers below the 200 and 50 day EMA suggesting a bearish outlook in the long term. However, the short term trend seemed to be improving as the price has surpassed the 20 day EMA. What’s Ahead For Akash Network! Akash Network has shown a remarkable recovery in the recent sessions after taking a rebound from the lows. The bulls are attempting for a recovery after stabilizing near the $2.75 level which shows a possibility of a bullish reversal ahead. However, the long term trend still favors the bearish side with the price hovering below the key exponential moving average of 50 and 200 days. The EMAs may act as dynamic resistance and the price may suffer losses again. However, the price rise is backed by momentum and a massive 110% rise in the transaction volume which adds confirmation to an improving sentiment. The price has also surpassed the 20 day EMA indicating a bullish scenario in the short term.

Price structure shows a breakout of the falling wedge pattern The AKASH Network has soared 18.40% in the intraday session, with a market cap of $895.36 Million. It has the spot ranked 75th in the top 100 coins on the CoinMarketCap website. AKT's 24-hour trading volume on all major platforms has reached $84.97 Million with a 75.50% increase. The liquidity is also good as the volume to market cap ratio stands at 9.43%. Overall, out of its 242.071 Million AKT total supply, AKT's 62.30% quantity floats in the circulation. Besides that, its maximum supply has been capped at $388.539 Million AKT. The Price structure shows a breakout of the falling wedge pattern, supported by dynamic support of the 20-day EMA band on the daily. After a formation of lowest support of $2.50, the price has been up 45% at $3.65. Meanwhile, technical oscillators represented the surge by bullish cross in MACD and RSI recovery from extreme oversold of 25 to the press time at $51.34.

by Yash_Jain_1309

Akash Network (AKT)Akash Network (AKT) Akash Network is at the forefront of a transformative wave in cloud computing, challenging traditional services with its innovative, blockchain-based, open-source cloud marketplace. This platform promises enhanced speed, efficiency, and cost-effectiveness. In the latest market update, Akash Network's cryptocurrency experienced a near 4% rise in intraday trading. This uptick follows a bullish reversal from the previous day. However, volume analysis suggests a 10.1% decrease in volume inflow, hinting at lower demand at increased price levels. Moreover, it has a live market cap of nearly $751.62 Million and ranks 91st in the overall crypto market. the volume to market cap ratio 3.87% indicating low volatility. Out of a 388.53 Million AKT tokens, 62% i.e. 241.15 Million tokens are in the circulating supply.

Is AKT Price Bears Pushing The Price Down?Akash network has a market cap of $850 Million and is currently ranked 91st in the cryptoverse. It has a total supply of 388,539,008 AKT in which 61.8% is circulating in the market. The volume of the token price has observed a decline of over 11.5% in the intraday session. AKT token price is currently trading near the value of $3.83 with a decline of 10% in the intraday session. AKT is currently trading in a bearish parallel channel on the daily chart. It is trading below the 50 and 100 EMA with a negative crossover in the past. The upside trend of the AKT token price can see a halt near the value of $5. Meanwhile the downside trend of the asset price can be seen near $3. The RSI of the AKT token price can be seen near 27 with a strong downside slope in it. The overall sentiment of the RSI is bearish in nature.

Akash Network Near A Support Level: Bounce Back Or Breakdown?Akash Network Near A Support Level: Bounce Back Or Breakdown? Akash Network employs a comprehensive security strategy to protect its decentralized cloud computing environment. The network's robustness is anchored by its proprietary cryptocurrency, AKT, which is integral to its security framework. The platform operates on an innovative Layer One Protocol powered by the Cosmos SDK, which is tailored for crafting interoperable blockchain applications with superior performance. From a technical point of view, the Akash Network price was trying to stabilize near a positive trendline support. Earlier the crypto kept on losing for most of the sessions this week and has dropped by over 13%. Now, if market optimism prevails and the current support holds, then a bounce back is likely in the AKT crypto which may take the price to the higher levels of $5 and $6. Conversely, if market sentiment turns bearish and the price dips below the trendline, a downward trajectory could ensue, possibly driving the price down to the $4.2 and $3.4 thresholds.