Akash Network (AKT) Bulls Hang on by a Thread

Price action in the Akash Network market has managed to maintain an upside focus despite facing strong bearish opposition. Even so, the token has held its ground above important technical levels, recording a 5.09% price increase at the time of writing.

AKT Market Statistics

Current Price: $1.3065

Market Capitalization: $319.44M

Circulating Supply: 248.28M

Total Supply: 248.28M

CoinMarketCap Rank: 162

Key Price Levels:

Resistance: $1.500, $1.750, $2.000

Support: $1.300, $1.050, $0.8000

Akash Network Sees Turbulence

Price movement on the daily chart in the Akash Network market has shown notable resilience in the face of strong headwinds. Over the last two sessions, however, the chart has reflected notable downward contractions. The previous session yielded to bearish pressure, while the ongoing one is still resisting bearish activity—though with visible struggle.

Despite this, the fact that price action has retained a base above the middle band of the Bollinger Bands (BB) indicator suggests that bullish forces still have an edge. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines have crossed in the overbought region but are making limited progress downward toward lower levels.

AKT’s Upside Retracement Seems Threatened

While bulls on the daily chart are still holding their ground, the 4-hour chart of Akash Network reveals that price action may have undergone a bearish test. This is evident as the price fell below the middle band of the BB indicator.

Additionally, the current session has begun with bears still in control, although the BB indicator itself maintains a slight upward tilt. The SRSI indicator lines have now descended into the oversold region, with their terminal points merging and moving sideways. This suggests that price action could descend toward the $1.250 price level in the near term.

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