As buyers gain momentum, altcoins like AKT are making a comeback with a massive overnight price jump of 25%. With this sharp jump, the Akast Network token shows a positive trend and projects a potential surge to double digits.
The broader market recovery and the highly anticipated altcoin season post-halving could fuel the bull run in Akash. With immense potential for massive returns, let’s find out if the AKT token price will continue its rally.
Will AKT Price Reach $10?
Despite the recent drop under the long-coming support trendline, the AKT price sustains dominance above the 200D EMA. As the altcoin price action reflects an underthrow to resurface above the trendline, it witnesses a boost in bullish momentum.
With an additional boost, the AKT price forms a massive bullish engulfing candle of 25% and reclaims the $5 mark. Starting a new positive cycle in the uptrend, the Akash Network token continues to maintain an uptrend.
Currently, the altcoin trades at $5.1022 with a minimal intraday move, reflecting an exhaustion post-surge. Nevertheless, the sharp increase overnight sets a bullish tone in the daily chart.
Technical indicators:
EMA: As the AKT price exceeds 50D EMA, the looming threat of a death cross fades away.
MACD: The bullish crossover in the MACD and signal lines experience increased momentum. Hence, the MACD indicator supports the possibility of a bull run in Akash Network.
Will Buyers Beat $6 Resistance?
Considering the bull run sustains the newfound momentum, the AKT price might witness a new all-time high formation. However, the buyers must overcome the 50% trend-based Fibonacci level at $6, a prominent resistance level.
In case of a bullish break, the uptrend could hit the $8.65 mark before ascending to the $10 psychological milestone. On the flip side, a reversal could retest the bullish integrity of the support trendline.