Akash Network (AKT) Price Analysis: Is This the Right Time to Stack AI Tokens?
- WBOYOriginal
- 2024-08-27 21:28:11718browse
The cryptocurrency market has continued to display increased price volatility over the past few days. However, with the price of Bitcoin hovering above the $62K mark, the top altcoins have successfully regained momentum. This indicates a positive outlook for the crypto space.
The virtual currency market has been experiencing increasing price fluctuations over the past few days. However, the Bitcoin price has remained at the $62,000 level, and major altcoins have regained their gains. The outlook for the virtual currency market is bright.
On the other hand, artificial intelligence (AI) stocks have shown a significant rise during this period. In response, AKT price has broken above the resistance and is rising.
If you accumulate AI tokens based on the current market sentiment, you will not miss out on the coming bull market. In this article, we will discuss price analysis and short-term price targets for Akash Network (AKT) token.
AKT price fails to retest important resistance
Akash Network token price has increased by 8.83% in the past 24 hours and by 15.69% in the past week. Although it has recorded a decline of 11.28% in the past month, it is +18.89% year-to-date. This suggests a long-term bull market.
Also, this altcoin is hovering around the key resistance level of $3.210, and a retest is expected. However, the results are unclear. Akash Network price is currently trading at $2.892.
The trading volume in 24 hours was $58.96 million, and the circulation amount was 248,285,801 AKT. The altcoin ranks 83rd on the world cryptocurrencies list with a market capitalization of $720.33 million.
Akash Network Market Sentiment
RSI is showing an uptrend near neutrality, but the average trend line is rising. This indicator suggests that altcoin price sentiment is mixed.
On the other hand, the green histogram of MACD is continuously rising, and the average is recording a bullish rise. This suggests that prices will continue to rise this week.
How high will AKT rise?
If the market pushes AKT price above the resistance, the bulls will gain momentum and aim for the upper limit of $4.240. If the price holds at that level, the AI token could test an all-time high of $5.180 in the future.
On the other hand, if the bears regain control, AKT Coin could plummet to the support level at $2.250. Moreover, if the bearish momentum in the crypto market continues, this altcoin could set a new year-to-date low.
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