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

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