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...
AKT is a bit of a tricky entry.
The chart isn't really setting up that great, and you may want to account for 30% or more swing against you getting in this one.
To compensate for this, I am going to do a phased entry, buying in 3 tranches over 5 days. Equal parts on day 1, day 3, and day 5. The DCA should result in a better than horrible entry. 🤣🤣
We want to...
AKT, Akash Network is a great project. I like the tech.
More potential than ICP.
It came to my attention that this recently got pumped by some big accounts on Twitter, and that's why it corrected so violently.
The paper hands got flushed, and now we will see a nice healthy rally from here.
$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 $4.50. Let's see what it will do!
*Not Financial Advice
- AKT is currently in a downtrend and did rebound around 2$.
- 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.