Akash Network (AKT): A Breakout Moment in the Computing SpaceAkash Network ( CSEMA:AKT ), a decentralized cloud computing platform, has recently caught the attention of crypto traders and analysts alike with its impressive breakout and bullish momentum. AKT's recent price action has shifted the token from a prolonged downtrend to a new uptrend, as it aims to position itself as a significant player within the DePIN (Decentralized Physical Infrastructure Network) sector. Both technical indicators and fundamental developments suggest that CSEMA:AKT may be gearing up for substantial growth in the near term.
Technical Analysis
CSEMA:AKT has recently broken through a major descending trendline at $2.31, climbing quickly to a new high of $3.44. This breakout is a clear reversal of the previous downtrend, suggesting that the token has regained bullish momentum. The current support level for AKT now sits at $2.97, offering a potential floor in the event of a pullback.
Key Resistance Levels: The first resistance level to watch is at $3.85. Breaking through this resistance could open the path for CSEMA:AKT to target $5.83, a substantial upside from current levels.
RSI and Momentum: Currently, AKT’s Relative Strength Index (RSI) sits at an elevated 72.90, placing it in overbought territory. While an RSI above 70 often signals caution, it also reflects strong buying interest. Overbought conditions could lead to a pullback, but if momentum remains strong, CSEMA:AKT may continue its upward trajectory.
CSEMA:AKT is trading above key moving averages, further reinforcing the bullish outlook. Trading above these levels signals strong support and suggests that buyers are firmly in control.
Overall, the technical indicators for CSEMA:AKT reveal a bullish trend with a well-supported breakout, increasing the likelihood of continued upside. However, traders should monitor the RSI and be prepared for potential consolidation as the price nears resistance.
A Leader in Decentralized Cloud Computing
Akash Network’s growth extends beyond its technical indicators. As the first decentralized open-source cloud, Akash aims to reduce the costs of cloud computing by offering a decentralized marketplace where users can buy and sell computing resources. This unique approach disrupts the traditional cloud computing model dominated by large tech firms and aligns with the broader trend toward decentralization in Web3.
DePIN Sector Growth: The DePIN sector, which focuses on decentralized infrastructure, is experiencing significant attention as projects like AKT, BTT, and AIOZ capitalize on the demand for decentralized services. As Bitcoin’s recent rally uplifts the entire crypto market, AKT and similar DePIN tokens are well-positioned to benefit from positive market sentiment.
Potential Partnerships and Developments: Akash’s founder, Greg Osuri, has hinted at potential collaborations that could expand the network’s reach. There are even speculative rumors suggesting a possible partnership with political administrations that could support decentralized technologies, which has further sparked interest and speculation within the community.
Community Sentiment: The phrase “sleeping giant” is increasingly being associated with AKT, as many investors believe the coin’s potential is yet to be fully realized. The community is anticipating that AKT could reach a $2 billion market cap, fueled by Akash’s innovative approach to cloud computing and the growing interest in decentralized services.
Is the AKT Rally Just Beginning?
AKT’s recent breakout has not occurred in isolation. Tokens across the DePIN sector, such as BTT and AIOZ, have also shown significant upward movement, suggesting that a broader rally may be underway for decentralized infrastructure assets. As these tokens break major resistance levels, they establish new support zones that could propel further gains if positive momentum persists.
Moreover, Bitcoin’s record-breaking rally has created an environment of positive sentiment across the crypto market. As the market leader, Bitcoin often sets the tone for broader market trends, and its recent surge has bolstered confidence in the overall market, making investors more willing to take positions in high-potential projects like Akash Network.
Conclusion
Akash Network’s unique positioning in the decentralized cloud computing space, combined with its recent bullish breakout, makes it a compelling token to watch. The technical indicators are aligned with bullish sentiment, as AKT is trading above key moving averages, has broken through a descending trendline, and could target resistance at $3.85 and even $5.83. However, the elevated RSI suggests that caution is warranted, as a pullback may occur before the next leg up.
Akash Network’s goal to decentralize cloud computing resonates with the broader shift toward Web3 and DePIN assets. With a strong community, speculation around new partnerships, and an optimistic outlook in the crypto market, CSEMA:AKT has the potential to grow significantly. However, as always, potential investors should remain vigilant and manage risk, as the crypto market can be highly volatile.
AKT
Akash Network (AKT)Akash Network is an open network that lets users buy and sell computing resources securely and efficiently. Purpose-built for public utility. Leveraging the power of blockchain technology, Akash Network has developed an open-source, decentralized marketplace for cloud computing, offering an unprecedented level of speed, efficiency, and affordability.
Anyway, AKT ended the downward move when the price broke the major downtrend line. Then Akash started its upward phase, which took the price up to the ATH slowly but surely. AKT reached the ATH but couldn't break the area; instead, ATK made a retraction to gather momentum. Then Akash started a new upward wave to attack the ATH's horizontal resistance area and break it. Only then can ATK achieve higher targets. Let's see what happens.
#AKT Technical Analysis in a Daily TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
AKT is currently in a downtrend, struggling to break above the resistance trendline and the 50 EMA. It has been forming a lower-low, lower-high pattern, but recently, it has been attempting to reverse to a higher-high, higher-low pattern.
To confirm this reversal, AKT needs to break above the resistance level at $2.67 and close above the previous lower high at $2.992 on the daily chart. This would signal a shift toward an uptrend.
On the bearish side, if AKT fails to hold the dotted support line, the reversal will be invalidated, and the price will likely drop toward the $1.80 support line, which could present a decent entry range.
Key levels:
- Primary Support: $2.23.
- Lower Support/Entry: $1.8.
- Crucial Resistance: $2.67-$2.992.
- Long-term Target: $6-$8.
DYOR, NFA.
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Alikze »» IO | Descending channel🔍 Technical analysis: Descending channel
- In the analysis of the post presented earlier, it was moving in an ascending channel in the 1h time frame, which was corrected after failing to break the supply zone and touched the bearish target.
- Now it is moving in a descending channel in the 8h time frame.
- According to the behavior and structure, it is forming a double hybrid modification.
- Therefore, I expect that after hitting the ceiling of the channel, which can form a corner pattern, it will encounter an increase in supply again and complete the last leg to the minimum floor of the channel and then to the Buyer Zone.
💎 Alternative scenario: If it can break the zone considering that it has an Ingalf candle at the bottom of the channel, it can increase to 0.23 fibo of its previous wave. If the behavior and structure of the post changes, it will be updated.
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BINANCE:IOUSDT
Alikze »» AKT | Descending channel🔍 Technical analysis: Descending channel
- It has been moving in an ascending channel in the 1W time frame.
- In the short term after the break of the descending channel, as you can see, it is moving within a descending channel.
- After breaking the long-term ascending channel and pullback, it has had a correction up to the golden zone.
- In the 8H time, if the supply zone breaks, it can grow up to 4.68, otherwise, it can retest the bottom of the channel.
⛳️ Upside targets: 4.65 - 5.08 - 5.47
⛳️ Downside targets: 2.74 - 2.35 - 1.95
💎 But in the daily and weekly time frame, according to the bullish candlestick in the golden zone, if the supply zone fails, it will have the ability to grow to the next zone and the specified goals of the ceiling of the long-term ascending channel, which I will review and update later.
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AKT Eyes $6 After Strong Run-UpAkash Network (AKTUSDT), a favorite among many crypto enthusiasts, has been on a tear since September 2023. The coin has surged a staggering 700% , exploding from $0.80 to its current price of $4.70.
This bullish trend shows no signs of abating. After a recent dip that reach its support zone of $3.75 on the weekly timeframe, the coin has staged a swift recovery . It's currently trading at $4.70 and appears poised to challenge the next resistance level at $6.00 .
Will AKT reach $6? Only time will tell, but with strong support levels and a clear target in sight, Akash Network is definitely a coin to watch for in the coming weeks.
Monthly Timeframe:
$AKT impulsive pump to ATH and new price discoveryAccording to some news site, AKT or Akash Network has surged by over 47% today, following the announcement by South Korea's largest exchange, Upbit, to list the token.
Here's my idea for AKT next price action:
- new bottom times 2, so it went past $6 and wicked past $7
- new ATH hence new price discovery next
- taking benefit of doubt, next price target $7.7 to $8.2
AKASH/USD (AKT) - Crucial Key LevelsAkash Network (AKT) - has been on a parabolic run this year and has performed very well. Price has managed to hit an all-time high of: "$6.50"! Bears currently atm have driven the price down past support at $4.90 which put's AKT at a major risk if the price continues to plummet past bellow: $3.35 zone.
🟢Line of Support Zone= $3.35 - $3.66
🔴Line of Resistance= $4.43
All-Time High= $6.50🌝
Learn to take profits, don't be greedy! Trade with caution during these dips regardless during a bull run. Not all coins follow with the rally of Bitcoin, so ALT season may not happen until the flow of BTC transfer into ALT's later this year.
AKT - The AI Super CloudWe are entering the age of AI. According to MIT, "Interactive massively parallel computations are critical for machine learning and data analysis" (A).
The world is becoming more centralized than ever. Companies with the largest amount of resources will be able to afford the largest amount of computation. According to MIT, "the computing power needed to train AI is now rising seven times faster than ever before" (B 2019).
That was in 2019. Fast forward to 2024. The demand for computation is skyrocketing.
AI is dubbed the final invention mankind needs to create. Such monumental technology will transform the world and create an ultra concentration of power, the likes of which has never been seen before. Who will dominate this power? Corporations. If we thought we already lived in a corporatocracy, we have not seen anything yet.
In comes Akash.
AKT allows the common man, the common researcher, the common company to access vast computational resources to train the neural networks of AI. AKT represents computational freedom.
To quote AKT's website, "You will own your cloud, and be happy".
You will own your AI, and be happy.
A. Reuther et al., "Interactive Supercomputing on 40,000 Cores for Machine Learning and Data Analysis," 2018 IEEE High Performance extreme Computing Conference (HPEC), Waltham, MA, USA, 2018, pp. 1-6, doi: 10.1109/HPEC.2018.8547629.
B. www.technologyreview.com
Akash Network AKTAbout Akash Network
Akash Network is a Supercloud spearheading a paradigm shift in cloud computing, disrupting conventional cloud services, and pioneering a revolution in access to essential cloud resources. Leveraging the power of blockchain technology, Akash Network has developed an open-source, decentralized, marketplace for cloud computing, offering an unprecedented level of speed, efficiency, and affordability. This innovation is set to transform the way users perceive and utilize cloud services.
.....................................................................................................................
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature.
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Continued selling pressure TECHNICAL: The price of AKT is testing the 21 Moving Average in a bearish sentiment. Notice the huge spike in selling volume few days ago (it's a daily chart) From my experience such huge selling volume leads to much deeper falls that can last weeks. The price channel is moving south and currently there is no indication that it will change in the near future. Let's revisit this in a few days to see if the 21 MA gets broken to the upside.
FUNDAMENTALS: The AKASH validators have voted to substantially reduce staking rewards to cap token inflation but this may turn sour when current stakers decide to leave and future investors will feel disincentivized to invest. This may add to selling pressure.
Not financial advice.
AKTIO/USDT : Opportunity to buy before significant take offAKTIO/USDT : Opportunity to buy before significant take off
Context
AKTIO Coin is the native ERC20 coin from Akt.io app available since march on Apple and Google Store (Europe only for now) www.akt.io - The AKTIO Coin has been launched the 13/04/2022 at 1,09$ on Bittrex exchange (during the Paris Blockchain Week Summit), also accessible on directly vie the exchange on akt.io app. The price action of the AKTIO is positive and will become more and more attractive once it will be released on further exchange & a stacking solution soon regarding the road map, also the commercial success of the app will impact the coin price action with more and more users expected for 2022. you will find more details here : www.akt.io
Supply:
Total supply : 100 000 000
Circulation supply : 12 500 000 (12,5%)
Circulation supply January 2023 (32%)
Vesting ICO participant (21 month - released every 3 month) - 18% of the total supply
Vesting reserved (60 month - released every 3 month) - 69,5% of the total supply
The total supply is 10x less than similar project such as Swissborg or Nexo and the progressive vesting schedule calendar will help the coin to progress step by step towards >10$ for 2022 in parallel of the users acquisition. On current level the coin is clearly under-value and offer a nice opportunity to enter in the trade.
Tactical view 1 to 6 weeks:
As long as 1,60 remains support on the short-term a further rise towards 3,15 (Auto-similar move - blue arrow) is likely before extending the progression towards 5,90 in a first step. Long-term target stands at 10$+
Enjoy my friends !
AKTIO/USDT : first target reached at 3,15 - What Next?AKTIO/USDT : first target reached at 3,15 - What Next?
Previous analysis :
Context
AKTIO Coin is the native ERC20 coin from Akt . io app available since march on Apple and Google Store (Europe only for now) www.akt.io
- The AKTIO Coin has been launched the 13/04/2022 at 1,09$ on Bittrex exchange (during the Paris Blockchain Week Summit), also accessible on directly vie the exchange on akt . io app. The price action of the AKTIO is positive and will become more and more attractive once it will be released on further exchanges & stacking solution soon regarding the road map, also the commercial success of the app will impact the coin price action with more and more users expected for 2022.
you will find more details here : www.akt.io
Supply :
Total supply : 100 000 000
Circulation supply : 12 500 000 (12,5%)
Circulation supply January 2023 (32%)
Vesting ICO participant (21 month - released every 3 month) - 18% of the total supply
Vesting reserved (60 month - released every 3 month) - 69,5% of the total supply
The total supply is 10x less than similar project such as Swissborg or Nexo and the progressive vesting schedule calendar will help the coin to progress step by step towards >10$ for 2022 in parallel of the users acquisition. On current level the coin is clearly under-value and offer a nice opportunity to enter in the trade.
Tactical view 1 to 6 weeks (Update)
As long as 2,45 remains support on the short-term (In daily close) a further rise towards 3,66/3,84 is likely before extending the progression towards 5,90 (Auto-similar move in log scale - blue arrow) in a first step. Long-term target stands at 10$+
New technical element = 3,15 target has been reach - Key EMA support the AKTIO at 2,85 which can offer a pullback (entry) potential for strong bullish move... but a direct rise can't be ignored in this situation, the momentum is strong and not exhausted
Enjoy my friends !
AKTIO/USDT : Pullback on Moving average - time to add?AKTIO/USDT : Pullback on Moving average - time to add?
Previous analysis :
Context
AKTIO Coin is the native ERC20 coin from Akt . io app available since march on Apple and Google Store (Europe only for now) www.akt.io The AKTIO Coin has been launched the 13/04/2022 at 1,09$ on Bittrex exchange (during the Paris Blockchain Week Summit), also accessible on directly vie the exchange on akt . io app. The price action of the AKTIO is positive and will become more and more attractive once it will be released on further exchange & a stacking solution soon regarding the road map, also the commercial success of the app will impact the coin price action with more and more users expected for 2022. you will find more details here : www.akt.io
Supply :
Total supply : 100 000 000
Circulation supply : 12 500 000 (12,5%)
Circulation supply January 2023 (32%)
Vesting ICO participant (21 month - released every 3 month) - 18% of the total supply
Vesting reserved (60 month - released every 3 month) - 69,5% of the total supply
The total supply is 10x less than similar project such as Swissborg or Nexo and the progressive vesting schedule calendar will help the coin to progress step by step towards >10$ for 2022 in parallel of the users acquisition. On current level the coin is clearly under-value and offer a nice opportunity to enter in the trade.
Tactical view 1 to 6 weeks (Update)
As long as 1,78 remains support on the short-term a further rise towards 3,15 (Auto-similar move - blue arrow) is likely before extending the progression towards 5,90 in a first step. Long-term target stands at 10$+
New technical element = pullback on EMA + Key fibonacci level
Enjoy my friends !