TECHNICAL: The price of AKT is testing the 21 Moving Average in a bearish sentiment. Notice the huge spike in selling volume few days ago (it's a daily chart) From my experience such huge selling volume leads to much deeper falls that can last weeks. The price channel is moving south and currently there is no indication that it will change in the near future....
The 1, 2 (macro wave) structure, according to Elliott Wave, is almost complete. After Akash made over 2400% with a significant impulse wave right after the launch, we finally see an ABC (macro wave - zig-zag) correction coming to an end. Indeed it was choppy for those who bought the top, but that's why you have to understand structures. There is a falling wedge in...
Flux exited the small downward triangle and reached the lower boundary of the more global triangle.
With a high probability (if BTC won't make any sharp moves) the price will now move to the upper boundary (~$2.88).
Akash Network is the world’s first decentralized open-source cloud, providing faster, more efficient, and lower cost application deployments for high-growth industries including DeFi, decentralized organizations and applications, and machine learning/AI.
Akash Token (AKT) is the platform’s native utility token, used as the primary means to govern, secure the...
AKASH - BO of parallel channel with strong volume's -
Entry only after sustaining above trend line - next target 270 & further upside possible.
Please do own research before investing
$AKT sitting in a neutral position
Purple boxes represent key support zones
Bullish outcome - Push past and test on 50 & 25 EMA
Bearish outcome - Sunday retest & accumulation against 06th October daily wick @ $3.1 - $2.9 to confirm a breakout, followed by a continuation of the upward trend
As I am PERSONALLY bullish long term on Akash network fundamentals and...
Akash is a top project with great fundamentals - web3 cloud provider cheaper than AWS, Google etc. The chart does not look as nice as the fundaments but I think this divergence could play out and we could see AKT hitting the resistance at 4$. Many tokens are staked (42% APY) and the price is therefore easy to manipulate. Volume is also there + there was a big...
AKT experienced a great move upwards these last couple of days, but as the RSI is starting to show weakness I think it only makes sense that it comes back down to retest its significant previous resistance level and turn it into support before rallying further up. The key level here is $4.50. Let's see what it will do!
*Not Financial Advice
Intro:
- AKT is currently in a downtrend and did rebound around 2$.
- Unfortunately AKT on tradingview does not show the full history. We include the resistance levels around 5$ and 6$.
But since we believe in this coin and its potential we will start covering it here.
- Akash is one of the first cloud computing and cloud storage service based on blockchain.
Cloud...
