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Akashnetwork

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.
Long
by DEXWireNews
3
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.
CRYPTO:AKTUSD
by SaeedSalehinia
#AKT Technical Analysis in a Daily TimeframeHello everyone, I’m Cryptorphic. I’ve been sharing insightful charts and analysis for the past seven years. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. 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. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
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:
Long
by Z4F4R
AKTUSD Excellent 3X buy opportunityLast time we looked at Akash Network (AKTUSD) was on August 22 2023 (see chart below) and it followed our pull-back buy approach precisely, hitting our 2.8000 Target with ease: The coin has again started to draw attention as it broke above its 1D MA50 (blue trend-line) for the 2nd time after the bottom on the Higher Lows trend-line of the 1-year Channel Up. With the 1D MA200 (orange trend-line) holding, this break-out confirms essentially the start of the pattern's new Bullish Leg. The first peaked at +678%, the second at +799%, so if that's a progression it is possible to see the third one peaking at +879%. However even if the +678% minimum rise is followed, we are looking at a 3X growth from the current levels. As a result, we set a modest 23.000 medium-term Target on Akash for the next Higher High. It is worth noting also that the 1D RSI gave a clear bottom signal when it hit the 30.00 oversold barrier and rebounded. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:AKTUSDLong
by TradingShot
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.
CRYPTO:AKTUSD
by Bitcoin_Benny
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
Long
by theGREEKFREEKisWEB3
📈🚀 AKTUSDT Market Update 🌐💹📉 Market Resilience: Despite yesterday's market turbulence, AKT remains robust, surging to new All-Time Highs. 🔄 Historical Retracement Trend: Previous retracements have consistently held above the Ma-200, showcasing strength and sustained momentum. 💪 Current Support and Market Cap: Strong support at $3.00. Market cap at $715 million, consistently rising since October, outperforming Bitcoin. 📈 Potential Breakthrough: Breaking above $3.25 could pave the way for new All-Time Highs. 📊 RSI Insight: RSI rising from the 50 area indicates potential for further upward movement. 📣 Summary: CSEMA:AKT exhibits resilience and strength, reaching new All-Time Highs. Historical retracement trends and solid support levels contribute to positive market sentiment. Breaking $3.25 may signal continued upward momentum. #AKTUpdate #CryptoMarket #AllTimeHigh
Long
by Richtv_official
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.
by CryptoTrend-Alerts
AKTUSD How to trade a potential break-out or pull-back.The Akash Network (AKTUSD) has been trading within a Channel Up pattern since the February High and the current consolidation and struggle to break above its Higher Highs trend-line, prompts us to consider this as a higher probability of being a top. In addition, the 1W RSI (chart on the right), is vastly overbought above 80.00, hence more likely to need a corrective wave to harmonize this inflated momentum. As a result, we will buy again only after contact with the 1D MA50 (blue trend-line), on the condition that at the time of the contact the 1D RSI is at least at 40.00. If the price closes a 1W candle above the 0.618 Fibonacci retracement level though, we will buy the break-out regardless. In both cases our target is 2.800 (0.786 Fibonacci level and just below Resistance 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:AKTUSD
by TradingShot
2