Akash Network

Bitcoin

The post <a href="https://coinpedia.org/price-analysis/will-akt-price-hit-10-with-this-post-retest-rally/" rel="noopener noreferrer nofollow">Will AKT Price Hit $10 With This Post-Retest Rally?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Amidst the broader market recovery, the Akash Network token shows an immense increase in demand. With this turnaround, the AKT price action shows a post-retest reversal in action that may shortly lead to a new peak formation.&nbsp;
Will the broader market drive a surge in this altcoin for a new all-time high formation? 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 64% rise in the last 30 days, Akast Network, with a market cap of $1.39 Billion, is on a bull run. As the AKT price approaches the $6 mark, the uptrend gains momentum. The increasing momentum and the 150% surge in trading volume make this altcoin a lucrative choice.&nbsp;
<figure class="wp-block-image"><img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369.png" alt="" class="wp-image-303384" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/05/16125728/image-369-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure>
<a href="https://www.tradingview.com/x/gFeq7DGk/" rel="noopener noreferrer nofollow">Tradingview</a>
In the 1D chart, the AKT price shows a 14% jump in the last 24 hours. This marks a bullish reversal from the broken trendline, reflecting a post-retest reversal of a triangle pattern.
Currently, the altcoin trades at $5.80 with an intraday rise of 4.23%, making a second bullish candle. With the growing demand for Akash Network and the overall market recovery, the AKT price could soon surge beyond $6.
Technical indicators:
DMI: The VI lines maintain a bullish alignment, and the ADX line sustains a positive flow. Hence, the indicator supports the ongoing uptrend in the AKT price trend.&nbsp;
RSI: The daily RSI slope shows a higher high formation approaching the overbought boundary.&nbsp;
<h2 class="wp-block-heading" id="h-will-akt-price-reach-10">Will AKT Price Reach $10?</h2>
The altcoins sector could skyrocket this month if Bitcoin sustains the $65,000 mark for a run to $70,000. In such a case, the AKT price trend could surpass the $6 mark for an extended upside movement. Optimistically, an extended breakout run in Akash Network could reach the $7.5 mark. Conversely, a drop under the $5.5 critical support will test the $4.67 mark.&nbsp;

Will AKT Price Hit $10 With This Post-Retest Rally?

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