Akash Network (AKT) is approaching an impressive market cap, reaching $994 million at $4 per unit. A nearly 50% price surge over the past week signifies a potential new 52-week high.
Akash Network Price Performance Overview
The daily chart shows a falling wedge breakout, allowing AKT's price to rebound from the psychological $2 mark, yielding a 100% return. Currently, the bullish trend has exceeded the 50% Fibonacci level at $3.60 and surpassed the 200-day exponential moving average. This creates the potential for a golden crossover between the 200-day and 50-day EMA. The intraday candle shows a 22.73% surge, forming a massive bullish engulfing candle.
Potential Price Targets for Akash Network in 2024
With the trendline breakout rally gaining momentum, the price could reach the $6.19 mark, increasing the likelihood of a new 52-week high above $6.85. Based on Fibonacci levels, further targets are $8.31 and $12.09. Supporting the uptrend, the MACD and signal line maintain a positive trend with the resurfacing bullish histograms.
FAQs about Akash Network Price
{'qa': [{'question': "What is driving the current bullish trend in Akash Network's price?", 'answer': "Strong buying momentum, technical breakout patterns, and increased adoption of Akash Network's ecosystem."}, {'question': "What are Akash Network's next price targets in this bull run?", 'answer': 'If Akash Network breaks the $250 level, Fibonacci projections suggest potential targets at $600 and $1850.'}, {'question': 'Could Akash Network experience a price correction despite its uptrend?', 'answer': 'Yes, minor retests of breakout levels like $250 are possible, offering opportunities for consolidation before further surges.'}]}
Akash Network's upward trend presents opportunities for reaching new heights in the cryptocurrency market. Despite possible corrections, positive signals in technical indicators sustain optimism.
