Akash Network ( AKT ) Analysis, Bulls Continue To Be Dominant After $5 Breakout.

The post Akash Network ( AKT ) Analysis, Bulls Continue To Be Dominant After $5 Breakout. appeared first on Coinpedia Fintech News

Akash network ( AKT) is today on the top gainers list with a 24-hour surge of 15.23% and a weekly uptick of an impressive $35.84%. AKT has been resilient to bears throughout 2024 and ascended from $2.45 to the current $5.69. Meanwhile, the yearly growth of the coin is 2350%. 

Yesterday on 9th May, the price reclaimed the $5 position and triggered the much-required resistance breakthrough. Despite the short setbacks from $5.7, the bulls remain dominant and will remain so. 

The 1-hour AKT/USDT Chart plots bullish signals, handmade for both trend and swing traders. 

The upward channels are usually followed by a breakout unless supported by a relatively high ADX ( Average direction index) and RSI is slightly above the overbought condition. 

AKT price from here will continue the same set of upward candles and then settle for a sideway walk as the RSI will create a room under the trend line. 

The trend is eventually trying to plant some new support levels as we can find a strong one deep down at $4,2. Should the selling pressure increase, the price might rest at these new support levels. 

• Trade Setup: Enter now, and stop the loss $6 
• Trend: Overall Bullish

Akash Network AKT Price Prediction

With the ongoing major developments, storing technical and increasing traders’ attention there doesn’t seem to be any corrective pullbacks.   With no signs of abating, the upward trajectory continues to hit the only resistance at $7.2 to hit a new all-time high. But the entry to the $6 mark and sideways trading between $6 and $7 looks prominent. 

Traders can enter the positions now and keep a watch at the $5.2 mark, any correction from may retract the price to lower support levels.