Akash Network Price Analysis: Will AKT Retest $0.26 Level?


  • Akash Network price analysis is bearish today.
  • Support for the bears has been established at $0.25
  • 24-hour trading volume for Akash Network is hovering at $13,988,015.00.
  • AKT faces medium-term resistance at $0.27.

29 April 2024 : In this article we will walk you through Akash Network price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Akash Network, Is AKT a good investment? Akash Network support & resistance levels etc. But before diving deep into the AKT technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,316,709,432,753. The total trading volume stands at $58,604,451,830. Bitcoin shares 53.14 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $62,520.30 level after a decline of -1.65%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -3.33 percent reaching to $3,187.07 during the previous 24 hours.
While publishing this blog, BNB traded at $588.37, following a price change of -2.54%within the same time frame. SOL the native coin of Solana is down by -4.02 and currently trading at $136.24. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Akash Network Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Akash Network (AKT)

AKT Resistance Levels AKT Support Levels
Resistance Level 1 $0.26 Support Level 1 $0.25
Resistance Level 2 $0.27 Support Level 2 $0.24
Resistance Level 3 $0.28 Support Level 3 $0.23

Akash Network Performance

The price of Akash Network (AKT) is at $4.19, down -4.24% in the past 24-hours and has a price change of 1.53% over the week. One day trading volume for BTC is 13,988,015.00 USD while total marketcap reached $986,038,530.00 USD. There are almost 235,066,421 are in circulation out of 235066421.

Akash Network Price Analysis

AKT price analysis for 29 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Akash Network.

Moving Averages Price Indicator
Simple Moving Average (10) 0.26 Buy
Exponential Moving Average (10) 0.26 Buy
Simple Moving Average (20) 0.26 Buy
Exponential Moving Average (20) 0.26 Buy
Simple Moving Average (50) 0.29 Buy
Exponential Moving Average (50) 0.29 Buy

The Relative strength index (RSI) for AKT Coin is currently hovering at 51 for 14-days average line, which means AKT is moving towards overbought zone. The AKT/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market. While AKT’s Williams %R indicator is at -7.884 for the 14-day time period indicating a overbought condition and short term trend price correction is possible.

Conclusions

Akash Network has few recovery chances and might continue testing immediate resistance level of $0.26 in the coming days. While the gradual bullish movement in the overall cryptocurrency space can keep AKT investors hopeful.