Triangle Pattern Formation: AKT price action has formed a triangle pattern, indicating potential for a significant breakout.
Death Cross: A death cross is forming on the daily chart as the 50-day EMA approaches the 200-day EMA.
Current Price: AKT is currently trading at $3.21 with an intraday pullback of 3.21%.
Recent Performance: AKT price has jumped 20% in three weeks after hitting a support trendline at $2.50.
Market Conditions: Bitcoin's struggle under $60,000 is slowing down the bullish trend in altcoins, but broader market recovery next week may boost altcoins.
Technical Indicators:
RSI is near the halfway line, indicating potential for a bullish comeback.
EMA signals a death cross, which is a bearish indicator.
Triangle Pattern Significance: The AKT price is at the bottleneck of the triangle pattern, suggesting an imminent trend-deciding break.
Evening Star Pattern: A bearish evening star pattern has formed at the trendline, signaling potential downside.
Potential Upside: With a breakout from the triangle pattern, AKT could hit the $5 mark or the 23.60% Fibonacci retracement level.
Support Levels: On the downside, a fall could take AKT to the long-term support trendline near $2.50.
Market Focus: Smart money is focused on high-potential altcoins like AKT amid market recovery signals.
Short-Term Outlook: The next few days are crucial as AKT approaches the decision point in its triangle pattern.
Death Cross: A death cross is forming on the daily chart as the 50-day EMA approaches the 200-day EMA.
Current Price: AKT is currently trading at $3.21 with an intraday pullback of 3.21%.
Recent Performance: AKT price has jumped 20% in three weeks after hitting a support trendline at $2.50.
Market Conditions: Bitcoin's struggle under $60,000 is slowing down the bullish trend in altcoins, but broader market recovery next week may boost altcoins.
Technical Indicators:
RSI is near the halfway line, indicating potential for a bullish comeback.
EMA signals a death cross, which is a bearish indicator.
Triangle Pattern Significance: The AKT price is at the bottleneck of the triangle pattern, suggesting an imminent trend-deciding break.
Evening Star Pattern: A bearish evening star pattern has formed at the trendline, signaling potential downside.
Potential Upside: With a breakout from the triangle pattern, AKT could hit the $5 mark or the 23.60% Fibonacci retracement level.
Support Levels: On the downside, a fall could take AKT to the long-term support trendline near $2.50.
Market Focus: Smart money is focused on high-potential altcoins like AKT amid market recovery signals.
Short-Term Outlook: The next few days are crucial as AKT approaches the decision point in its triangle pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.