Akash Network (AKT) Extends Recovery From the Year’s Low

The Akash Network token has registered an over 8% price growth so far today. This has placed the token among the top three best-performing coins so far. As a result, the coin has gained a solid technical footing that may bolster bullish sentiment, allowing room for further price growth.

AKT Statistics

Current Price: $0.8447

Market Capitalization: $234.66M

Circulating Supply: 281.14M

Total Supply: 281.14M

CoinMarketCap Rank: 173

Key Price Levels

Resistance: $0.8500, $0.9500, $1.0000

Support: $0.8000, $0.7500, $0.7000

Akash Network Upside Movement Resumes

On the daily chart, the ongoing session indicates that buying pressure has continued in the Akash Network market. The current session is represented by a large green price candle, appearing noticeably above the 9-day Exponential Moving Average (EMA) curve.

Also, the Stochastic Relative Strength Index (SRSI) indicator lines are rising steeply into the overbought region. The movement of the indicator lines suggests strong bullish momentum in the market and, as such, hints that prices may extend further upward.

AKT Market Registers a Deflection at the $0.9000 Mark

The Akash Network market on the 4-hour chart shows that price movement has met resistance at the $0.9000 price level. This has resulted in a short-term pullback, although price action remains above the 9-day EMA curve. Technically, this indicates the possibility of the market advancing toward higher levels subsequently.

Meanwhile, the SRSI indicator lines are dipping slightly toward the oversold region at this level. The movement of the SRSI appears somewhat exaggerated, suggesting that the downward move is weak. As such, traders can anticipate a potential rebound toward the $0.9000 or even the $1.0000 price level.

Make money without lifting your fingers: Start trading smarter today