The Akash Network (AKT) token experienced a significant increase of over 25% in a single day. Buyers are showing interest in pushing the price past the $7 mark. The AKT token successfully broke the $5 mark and is now poised for further growth.

This week, the AKT token broke out of a symmetrical triangle formation, bouncing back from the $4 level. Additionally, a bullish crossover was observed, indicating a strong performance in the market.

Currently, the price of the Akash Network token (AKT) is at $6.14 with a 26.10% surge intraday, reflecting a high level of buying activity. The token has shown a monthly return rate of 45.39% and a yearly return rate of 2356.38%, suggesting a long-term bullish trend.

The AKT/BTC pair stands at 0.00000953 BTC with a market cap of $244.12 million. Analysts predict a continuation of the bullish trend for the AKT price, anticipating a rise to the $7 mark in the near future.

Can Akash Network (AKT) Make New ATH This Month?

The token recently surpassed the $5 trendline barrier, signaling a breakout for the week. There are expectations of further growth in the price, possibly reaching the $7 mark soon.

Followed by the price surge, there was a notable increase in trading volume, indicating strong investor interest.

Price Volatility & Weighted Sentiment Looks Positive

This week saw a significant spike in price volatility, reaching 87% at the 0.064 mark, indicating high speculation levels.

The weighted sentiment data has remained above the midline at 0.464, showing a positive trend.

Surge In Popularity

The Akash Network (AKT) is gaining popularity among investors, as seen in the social dominance data, which rose by over 65% to 0.131%.

The Momentum Indicator (Relative Strength Index) shows a strong positive trend, remaining in the overbought zone, suggesting bullish momentum.

According to Fibonacci retracement levels, the AKT price has surpassed the 50% zone and is approaching the 61.8% region. Key support levels are at $5.70 and $5.30, while resistance levels are at $6.30 and $7.

Conclusion

The Akash Network token (AKT) price is showing strong bullish momentum and is expected to continue its upward trajectory. The token is on track for further gains in the future.

Disclaimer

The information provided in this article is for informational purposes only and should not be considered as financial or investment advice from the author or any other individual.