The cryptocurrency market continues to display high volatility. Amidst this, the Akash Network (AKT) token is also showing significant price movements. In this article, we delve into the price analysis of AKT and possible short-term price targets.
AKT Price and Key Resistance Levels
In the past day, the Akash Network token added 8.83% to its portfolio and 15.69% over the past week. Despite recording a correction of 11.28% over the past month, it has a Year-to-Date (YTD) return of +18.89%, highlighting a long-term bullish sentiment. The token is hovering near its important resistance level of $3.210 and could potentially retest it. However, the outcome of this retest remains uncertain. Currently, the Akash Network price stands at $2.892.
Market Sentiments for Akash Network
The Relative Strength Index (RSI) showed a bearish curve above the midpoint, indicating mixed market sentiments. Meanwhile, the MACD displayed a constant rise, suggesting an upward trend. This indicator implies that the price is likely to continue gaining value this week.
AKT Price Forecast
If the market pushes the AKT price above its resistance level, the bulls might gain momentum and head toward its upper level of $4.240. Maintaining the price at this level could result in this AI token testing its high of $5.180 in the future. On the flip side, if bears regain control, AKT could plunge toward its support level of $2.250. Should the bears continue to dominate, the token might set a new yearly low.
Thus, the future price movement of Akash Network (AKT) remains uncertain. It is important to consider both current bullish and bearish sentiments for a more accurate assessment.
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