Akash Network (AKT) Sees Additional 3.73% Price Growth

The Akash Network token has experienced further upside retracements recently. This began when price action initially rebounded from the support level around $0.7500. However, the latest rebound has pushed the market through several key levels that could determine the continuation of further gains.

AKT Statistics

Current Price: $1.1188

Market Capitalization: $275.99M

Circulating Supply: 248.28M

Total Supply: 388.53M

CoinMarketCap Rank: 153

Key Price Levels

Resistance: $1.250, $1.500, $1.750

Support: $1.000, $0.750, $0.500

Akash Network Well Positioned to Extend Northwards

The AKT token has remained in the green for four consecutive sessions on the daily chart. Currently, the ongoing session is positioned just above the middle band of the Bollinger Bands (BB) indicator. However, the corresponding price candle appears to be contracting, as evidenced by the presence of an upper shadow. Still, its position above the middle BB band provides some short-term support.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator lines are rising steadily. The MACD histogram bars remain solid green and are growing taller above the equilibrium level, confirming that bullish momentum remains significant in this market.

AKT Upside Retracement Remains Intact

Price action on the 4-hour chart of the Akash Network shows that the ongoing uptrend remains viable despite occasional pullbacks. As of the time of writing, the latest price candle is testing the upper limit of the BB indicator. Technically, this suggests that a short-term pullback may be imminent. However, the BB indicator itself shows an upward tilt toward its end, indicating an overall short-term bullish trend.

In addition, the MACD indicator has already crossed above the equilibrium level and maintains an upward trajectory. Consequently, this market may continue progressing toward the $1.250 price mark. Nonetheless, a brief pullback may occur, considering that price action has reached the upper boundary of the BB indicator.

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