AKT Price Surge: Will it Reach $10 and Break $6 Resistance Levels?
Altcoins like AKT are making a comeback in the crypto market, with a massive overnight price jump of 25%. The Akash Network token is showing a positive trend and projecting a potential surge to double digits, sparking excitement among buyers.
The broader market recovery and the anticipation of an altcoin season post-halving are expected to fuel the bull run in Akash. With the potential for significant returns, many are wondering if the AKT token price will continue its rally.
Despite a recent drop below the long-standing support trendline, the AKT price remains dominant above the 200-day EMA. The altcoin’s price action indicates a resurgence above the trendline, boosting bullish momentum.
After forming a massive bullish engulfing candle of 25% and reclaiming the $5 mark, the Akash Network token is starting a new positive cycle in the uptrend. Currently trading at $5.1022, the altcoin shows signs of exhaustion post-surge but maintains a bullish tone in the daily chart.
Technical indicators such as the EMA and MACD support the possibility of a bull run in Akash Network. The AKT price exceeding the 50-day EMA and a bullish crossover in the MACD and signal lines indicate increased momentum.
Buyers are now eyeing the $6 resistance level, which is the 50% trend-based Fibonacci level. Overcoming this level could lead to a new all-time high formation and potentially push the uptrend towards the $10 psychological milestone. However, a reversal could test the bullish integrity of the support trendline.
As the altcoin market gains momentum, all eyes are on AKT to see if it can continue its impressive rally and potentially reach the $10 mark. Investors and traders are eagerly watching to see if buyers can beat the $6 resistance and propel the Akash Network token to new heights.
