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- 1 AKT price persisted in accumulating gains inside the rising parallel channel.
- 2 Buyers are gaining traction and stretched the rise.
AKT (Akash Network) price displayed an upward movement, forming higher high swings and exhibiting an uptrend on the chart. Recently, AKT price has escaped the critical hurdle of $1.80, and a golden crossover was witnessed. Afterwards, buyers have persisted in stretching the gains. Moreover, the price action highlights the bullish momentum as buyers lead from the front. The sellers made a short covering move in the past sessions.
AKT price is trading above the key moving averages and has been highlighting bullishness in recent sessions. Furthermore, the trend is intact, and buyers are eager to crack the immediate hurdle of $3 to catch the blue sky zone. Followed by the crypto market pump, AKT crypto surged over 165% in the recent sessions.
At press time, the AKT crypto was trading at $2.73 with an intraday gain of 19.32%, showing an uptrend on the chart. Moreover, the trading volume jumped by 2.80% to $6.72 Million. The pair of AKT/BTC is noted at 0.0000629 BTC, and the market cap is $ 111.17 Million. Analysts have maintained a bullish rating and suggest that the AKT price will continue to extend the up move and will surpass $3 soon.
AKT on Daily Chart Displays Rising Parallel Channel
On the daily chart, AKT price has persisted in rising the gains and displayed bullish dominance for in past sessions. Furthermore, the trend indicates a bullish bias. The buyers have gained strength and continue to showcase their giant muscles, which continues to stretch AKT price above the barriers. Per the Fibonacci retracement levels, AKT price has sustained above the 50% zone, reflecting follow-on buying sentiment.
The relative strength index (RSI) curve stayed above the midline near 60, showing a positive divergence, suggesting that the AKT price will reach $3 soon. The MACD indicator shows a bullish crossover and formed green bars on the histogram, suggesting that AKT price will continue to outperform in the upcoming sessions.
Weekly Chart Reflects Buyer Accumulation
On the weekly chart, AKT price replicates a breakout, has reached the blue sky zone and is still shining gains above the sellers vision. Per the technicals, AKT price has overtaken the neckline hurdle of $1.80 and is demonstrating fresh buying momentum on the charts.
Summary
AKT price has surpassed the foremost hurdle of $2.50 and is preparing to reach the round mark of $3. Moreover, the technical indicators are signaling a buy alert, as AKT price may continue to rise sharply.
Technical Levels
Support Levels: $2.60 and $2.40
Resistance Levels: $3 and $3.20
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
