Akash Network is one of many top performers amid the broader market recovery. Crossing above the $4 barrier, the bullish trend aims to prolong the parabolic rally.
Will the new breakout rally reach the $5.93 target this December? Let’s find out in Coinpedia’s latest AKT price analysis.
Akash Network (AKT) Price Performance
In the daily chart, the AKT price action shows a second flag pattern, gaining momentum. With three consecutive bullish candles, the AKT price has surged from $3.61 to a peak of $4.38.
The triple white soldiers’ pattern accounts for a price jump of nearly 22%. Furthermore, it surpasses the long-standing resistance zone, extending from $4 to $4.12.
The intraday pullback of 2.59% comes as a potential retest of the bullish breakout. As the recovery rally has surpassed the 67.80% Fibonacci level, the uptrend continuation is more likely.
Technical Indicators:
Following the golden crossover, the 100-day and 200-day EMA are closing the gap for a new bullish crossover. Furthermore, the MACD and signal line maintain a positive alignment by avoiding a negative crossover possibility. Hence, the technical indicators are siding with the bullish team.
Will Akash Network Price Cross $5?
Based on the Fibonacci retracement tool, the upside price targets beyond the immediate $4.74 resistance level are $5.93 and $7.87. On the flip side, the crucial support remains at the $4 mark, followed by the $3.52.
Will Akash Network reach the $10 price target? Read our Akash Network (AKT) Price Prediction to find out!
FAQs
A triple white soldiers pattern and a bullish breakout from the $4-$4.12 resistance zone.
Support is at $4 and $3.52; resistance is at $4.74, and higher targets are at $5.93 and $7.87.
Yes, indicators like the golden EMA crossover and MACD alignment support the uptrend.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed