AKT retest $4.50 area before antoher leg upAKT experienced a great move upwards these last couple of days, but as the RSI is starting to show weakness I think it only makes sense that it comes back down to retest its significant previous resistance level and turn it into support before rallying further up. The key level here is $4.50. Let's see what it will do!
*Not Financial Advice
AKASH
AKT/USDT Start: Akash as THE new cloud computing service? 10x?Intro:
- AKT is currently in a downtrend and did rebound around 2$.
- Unfortunately AKT on tradingview does not show the full history. We include the resistance levels around 5$ and 6$.
But since we believe in this coin and its potential we will start covering it here.
- Akash is one of the first cloud computing and cloud storage service based on blockchain.
Cloud computing becomes more and more the norm as well as cloud storage.
This makes us very bullish for Akash that it will perform well during this bullrun.
Daily chart on the left hand side:
- Price is currently in a downtrend together with the volume and the RSI.
- Once we break above we expect all three indicators to flip which could end in a sharp recovery.
4h chart on the right hand side:
- We see a weak support around 2.5$.
- The 50 and 200 MA are closing in which would result in a golden cross. The yellow camera already eagerly awaits this.
Expectation:
- We expect a recovery during the next months that will result in new ATH's.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone . Check the description.
