Akash Network

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bulls-against-death-cross-puts-akt-price-at-crossroads/" rel="noopener noreferrer nofollow">Bulls Against Death Cross Puts AKT Price At Crossroads</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With Bitcoin struggling under $60,000, the bullish trend in the altcoins is slightly slow to pick up pace. However, with the increasing chances of a broader market recovery next week, smart money is focused on finding high-potential altcoins like the Akash Network (AKT) price.&nbsp;
With a recovery rally motion, the AKT price trend is ready for a massive surge in the next week. So, let’s take a look at our Akash Network price analysis and determine the upside potential for this altcoin.
<h2 class="wp-block-heading" id="h-akash-network-price-performance-nbsp">Akash Network Price Performance&nbsp;</h2>
Crashing to the declining support trendline with lower price rejection from $2.50, the AKT price takes a positive turnaround. The recovery rally accounts for a price jump of 20% in three weeks.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdoCRBrqfB49kKjVZWjaKAs0NC67F8K0T9eMBZr8woxee6g-zOM9RJd-ojnv6l8k-S-8Ya3r5m7WW_M0tHIdHJjCV9vBhGUjcJXAXThOiVah9mRh3b8zl-Yw1yhCvhEierV40vuN6mi-qaNItWVyjtSGtUT?key=k41gmUZw1nkYhIE-sHI2kA" alt="">
</figure>
<a href="https://www.tradingview.com/x/fqYj6pNI/" rel="noopener noreferrer nofollow">Tradingview</a>
With the prevailing pullback phase forming a declining trendline, the recent recovery rally completes a triangle pattern. Currently, the AKT price takes support at the rising trendline and trades at $3.21 with an intraday pullback of 3.21%.&nbsp;
As the altcoin price approaches the bottleneck part of the triangle pattern, the sideline traders anticipate a trend-deciding break shortly. Further, the AKT price is down by 10% within 48 hours and completes an evening star at the trendline.&nbsp;
Technical indicators:
RSI: Despite a declining trend, the daily RSI line remains sideways near the halfway line and teases a bullish comeback.&nbsp;
EMA: The declining 50D EMA drops to the 200D EMA and warns of a death cross shortly.&nbsp;
<h2 class="wp-block-heading" id="h-will-akt-price-hit-6">Will AKT Price Hit $6?</h2>
As the recovery rally improves the breakout chances, the AKT price could bounce back shortly. Using the Fibonacci retracement levels, the altcoin could hit the $5 mark or the 23.60% level with the triangle breakout rally.&nbsp;
On the flip side, a downfall could result in a price fall to the long-coming support trendline near $2.50.

Bulls Against Death Cross Puts AKT Price At Crossroads

Table of Contents

CoinPedia News

Other articles published on Jul 12, 2024

SushiSwap (SUSHI) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Affordable Cryptocurrencies to Consider as Markets Anticipate Return of Bull Run

KangaMoon’s Post-Listing Milestones Takes The Spotlight As Fantom And Injective Struggle to Regai...

Animoca Brands Launches Validator on Core Chain to Boost BTCfi Security

Why Aren't Bitcoin and Altcoins Rising? When Will the Altcoin Rally Start? Analyst Announced!

Increased Crypto Adoption Drives Startup Boom in Asia and Africa This Year

Join our free newsletter for daily crypto updates!