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Akash Network

Billion

The post <a href="https://coinpedia.org/price-analysis/akt-breakout-rally-eyes-a-potential-20-price-jump/" rel="noopener noreferrer nofollow">AKT Breakout Rally Eyes A Potential 20% Price Jump</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With the low-cap altcoins market turning ballistic over the past few days, the AKT token price teases a massive jump ahead. As the recovery rally continues in the broader crypto market, the bullish turn in the Akash Network is a lucrative breakout entry opportunity.&nbsp;
Will this breakout rally make the AKT token the best-performing token this week? Is the AKT price headed to hit the $10 mark this month? Let’s find out now in our Akash Network price analysis.
<h2 class="wp-block-heading" id="h-akash-network-price-performance-nbsp">Akash Network Price Performance&nbsp;</h2>
With a bullish reversal from the $2.551 mark, after a 57% drop from $6, the AKT price is gaining trend momentum. As the altcoin is up by almost 52% within 14 days, the buyers are teasing a massive trend reversal and a moonshot move ahead.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfoL9uF5KyC0K6CLHcXr7plxArzdEDEjUxi8cIW6nvv7DJJYTh0IRGYczCW0gCRsxQVvjBmk2ffF1j3Za5juzx2w6O2dH2e7tKTwBmDIsxC4UXIJZJ0e6YnM83HTI1F7vLtUHalyHwJ8KmtAywSOE_AXWgZ?key=k41gmUZw1nkYhIE-sHI2kA" alt="">
</figure>
<a href="https://www.tradingview.com/x/p7djVlIi/" rel="noopener noreferrer nofollow">Tradingview</a>
With the buyers planning to end the correction phase, the AKT price challenges the lower high formation and the resistance trendline. The bullish reversal also teases a rounding bottom pattern.&nbsp;
Currently, the altcoin trades at $3.867 with an intraday rise of 4.72%, making third consecutive bullish candle in the daily chart. As the bullish recovery gains momentum, the market cap of Akash Network approaches the $1 Billion mark.&nbsp;
Technical indicators:
MACD: The bullish reversal in the AKT price results in a bullish crossover of the MACD and signal lines in the 4H chart. This reveals a significant surge in trend momentum, bolstering the upcycle.&nbsp;
 EMA: The trend reversal from $2.551 results in an upside move in the 50 EMA in the 4H chart. This increases the golden crossover chances in the altcoin.&nbsp;
<h2 class="wp-block-heading" id="h-will-akt-price-reach-10">Will AKT Price Reach $10?</h2>
Currently, the upcycle in the AKT price challenges the 38.20% Fibonacci level at the $3.857 mark. A breakout rally of the overhead trendline can pump the altcoin price higher by 20% to reach the 61.80% Fibonacci level at $4.655 within days.&nbsp;
Optimistically, the bull run will spearhead the market price to top the $8 mark at the 1.618 Fibonacci level.&nbsp;

AKT Breakout Rally Eyes A Potential 20% Price Jump

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