Helium (HNT) and Akash Network (AKT) Lead the Bullish Way as Altcoins Market Moves Forward Cautiously
- WBOYOriginal
- 2024-08-13 21:47:11927browse
With Bitcoin under $59K, the altcoins market is cautiously moving forward. Amidst such conditions, Helium and Akash Network lead the bullish way ahead.
As the broader market continues to experience increased volatility, leading to a slower recovery, altcoins are adopting a conservative approach. With Bitcoin remaining below the crucial $59K mark, the altcoins market is seeing a cautious advance.
In such a scenario, Helium and Akash Network are at the forefront of the bullish momentum, increasing the chances of a breakout run. Let's analyze the price charts of both altcoins to assess the breakout possibilities.
Top Altcoins To Watch: Helium (HNT)
A trendline breakout on the daily chart indicates a trend reversal rally gaining momentum for Helium. HNT price has rallied 118% in the last 36 days from the swing low at $3.046.
Moreover, the growing bullish influence leads to a positive crossover in the 50D and 200D EMA, forming a golden cross.
Tradingview
Coming to the Fibonacci levels, the HNT price has managed to clear the 50% Fib level at $6.45. At press time, the ‘Solana killer’ trades at $6.593, showing an intraday pullback of 5.39%.
The MACD and signal lines give a bullish crossover, highlighting the uptrend. A bullish breakout of the 61.80% Fib level at $7.30 will open up a price rally to $10 for the altcoin.
Optimistically, a longer-term target for the altcoin would be the 1.618 Fib level at $14.49.
Akash Network (AKT)
Like Helium, Akash Network shows a strong overhead trendline in the game. However, the presence of a declining support trendline leads the AKT price action to form a falling wedge pattern.
Tradingview
The downtrend in the bearish wedge drops the AKT price to the psychological mark of $2. But a quick reversal leads the ongoing bull cycle to test the overhead trendline, teasing a bullish breakout.
As per the Fibonacci levels, the falling wedge breakout run could fuel the uptrend in the altcoin to reach the $4.14 mark. Optimistically, with a broader market recovery, AKT price could reach the 78.60% Fib level at the $5.38 mark.
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