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- 1 The AKT price saw a sharp surge over 25% intraday.
- 2 Buyers have gained traction and are eyeing to breach the $7 mark.
The Akash Network (AKT) token witnessed a sharp uptick over 25% and noted massive buying momentum in the intraday session. The AKT token has escaped the $5 mark and is ready to explode ahead.
This week, the AKT token has registered a symmetrical triangle breakout and reverted from the $4 mark. Moreover, a bullish crossover was noted, implying outperformance on the charts.
At press time, the Akash Network token (AKT) price traded at $6.14 with an intraday surge of 26.10%, reflecting sharp buying momentum on the charts. It has a monthly return ratio of 45.39% and 2356.38% yearly, hinting at the long term bullish trend.
The pair of AKT/BTC is at 0.00000953 BTC, and the market cap is $244.12 Million. Analysts are bullish and suggest that the AKT price may continue to ride on the bullish track and will reach the $7 mark soon.
Can Akash Network (AKT) Make New ATH This Month?
On the daily chart, the token has crossed the trendline hurdle of $5 and registered a breakout this week. Moreover, the token is poised for an rise and may stretch the gains toward the $7 mark soon.
Source: TradingView
Followed by the price surge, the trading volume highlighted notable buying activity. The intraday trading volume witnessed an impressive surge over 33.28% to $295.34 Million, replicating strong investor interest.
Price Volatility & Weighted Sentiment Looks Positive
This week, the price volatility witnessed a sharp spike and rolled over 87% to the 0.064 mark, highlighting sharp speculations.
Source: Santiment
Going forward, the weighted sentiment data stayed above the midline, noted at 0.464 and is looking positive on the charts.
Surge In Popularity
The Akash Network (AKT) is getting popular among investors, which is replicated by the social dominance data on the charts.
Source: Santiment
The social dominance data noted a notable rise of over 65% and spiked to 0.131%, highlighting a positive outlook
The Momentum Indicator (Relative Strength Index) looks strong positive, and the curve stays in the overbought zone, replicating a bullish crossover on the charts.
Per the Fibonacci retracement levels, the AKT price has crossed the 50% zone and is close to the 61.8% region. The immediate support levels for the Akash Network (AKT)is $5.70 and $5.30 whereas the key upside hurdle is around $6.30, followed by $7.
Conclusion
The Akash Network token (AKT) price signifies strong bullish momentum and is highlighting the uptrend. Moreover, the token trades in the bullish trajectory and is ready to explode gains ahead.
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.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
