The Akash Network token has experienced an impressive price recovery in recent days. As a result, its price action has secured the second position on today’s top crypto movers list after recording a price increase of 8.52%. Let’s examine how this market may unfold shortly.
AKT Statistics
Current Price: $1.361
Market Capitalization: $330.85M
Circulating Supply: 248.28M
Total Supply: 248.28M
CoinMarketCap Rank: 146
Key Price Levels
Resistance: $1.500, $1.750, $2.000
Support: $1.000, $0.750, $0.500
Akash Network Maintains Moderate Gains
The AKT daily market continues its upward trajectory. Price action in this market has taken another upward leap off a key support level. The bullish rebound began in the previous session and has carried into the current one.
Notably, the current session’s price candle indicates a more significant price increase. Additionally, the market has climbed further above the 50-day Moving Average (MA) line. Similarly, the Stochastic Rate of Change (SROC) indicator continues to rise above the equilibrium level, suggesting the potential for continued upward movement.
Headwinds Encountered at the $1.500 Price Level
It can be observed that price action previously tested the $1.500 resistance level. However, this level appears to be a strong barrier, resulting in a sharp pullback below it. Despite the retracement, price action remains above all the MA lines on the chart.
Meanwhile, the Stochastic Rate of Change indicator continues to hover above the 0.00 mark, with its terminal slightly tilted upward above the equilibrium level. Therefore, the market may still have the potential to push higher toward the $1.750 resistance level.
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