Akash Network (AKT) Holds Fast to Gains

The Akash Network market has experienced a moderate price increase over the long term, spanning from April to June. Currently, the ongoing session reflects a 5.22% gain. Be that as it may, let’s examine how the market may develop further.

AKT Statistics

Current Price: $1.36

Market Capitalization: $340.81M

Circulating Supply: 248.28M

Total Supply: 248.28M

CoinMarketCap Rank: 150

Key Price Levels

Resistance: $2.00, $2.50, $3.00

Support: $1.50, $1.00, $0.50

AKT Price Action Hits a Resistance

Recent price action in the Akash Network market has taken an upward path. Moreover, the bullish momentum appears to be growing steadily. The corresponding price candle is pushing upward but appears compressed. Despite this contraction, the ongoing session shows more significant gains compared to previous ones.

Consequently, the current session appears restricted below the middle band of the Bollinger Bands. Additionally, the Smoothed Rate of Change (SROC) indicator has dipped below the equilibrium level. However, the end of the indicator line shows a slight sideways movement, suggesting a potential response to short-term market trends.

Akash Network Strives to Stay Bullish

On the 4-hour chart, AKT price activity continues to hold above higher support levels. The last two price candles appear red but remain above the uppermost Bollinger Band, causing the bands to widen slightly and take on an upward trajectory.

Meanwhile, the SROC indicator remains below the equilibrium level but is trending upward. This indicates that while the price action remains vulnerable, there is some bullish potential. As such, traders are advised to exercise caution—particularly as the price approaches the $2.00 resistance level.

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