Akash Network's AKT Token Pulls Back Over 12%
- Token Pullback: Akash Network's AKT token dropped over 12% within 24 hours, erasing gains that had pushed it near $0.90, with market capitalization declining 13.11% to approximately $204.34 million, indicating a sharp shift in market sentiment.
- Trading Activity Decline: Daily trading volume fell by about 32.8% to around $9.93 million, reflecting a significant decrease in investor activity that could lead to further price volatility and market uncertainty.
- Long Liquidation Insights: Total long liquidations exceeded $56,000, while short liquidations remained at just $1.85K, highlighting a strong market reaction against long positions, particularly with Binance accounting for over $37,000 in liquidated longs, indicating risks of over-leverage.
- Support Level Analysis: The $0.595 zone is now a critical support level that buyers need to defend; if breached, AKT could revisit its previous consolidation range, while a successful hold could allow another attempt at the $0.906 resistance level.
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Technical Analysis for AKT
Technical Sentiment Analysis for Akash Network (AKT). As of , Akash Network (AKT) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AKT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AKT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Akash Network (AKT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.452 | 0.581 | 0.699 | 0.828 | 0.945 | 1.074 | 1.192 |
| Fibonacci | 0.581 | 0.675 | 0.733 | 0.828 | 0.922 | 0.98 | 1.074 |
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