CandleFocus AKT Price Rallies 20% This Week: Is Bullish Reversal In Play?
2024-09-22
Author: Content Editor
The Akash Network (AKT) has seen a surge of over 20% in the past week, leading to speculation among investors of a potential bullish reversal. The price has maintained buying interest after bouncing off the $2 support level, indicating a potential trend reversal. If the price crosses the $3 mark, it could trigger a significant upswing, potentially retesting the 200-day EMA zone near $3.30. Technical analysis suggests a bullish outlook based on the breakout of a falling wedge pattern. The AKT price is currently at $2.84 with a market cap of $116.19 million. The Chaikin Money Flow (CMF) and Moving Average Convergence Divergence (MACD) indicators support the recent price gain, while a positive funding rate suggests a high demand for long positions. Open Interest (OI) has also increased, indicating a long buildup activity. The immediate support zones for AKT are $2.30 and $2, with upside hurdles at $3.20 and $4.
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