Price Analysis

Akash Network (AKT) And The Graph (GRT) Surge As AI Tokens Rebound! What’s Next?

The crypto market continues to display a mixed sentiment amid increased price volatility in the cryptocurrency industry. Moreover, the market leader, Bitcoin price, continues hovering close to its resistance/support level of $62,000, indicating uncertainty in future price action.

On the other hand, the Artificial Intelligence (AI) category continues to display a strong bullish price sentiment with top AI tokens recording significant uptrend in their respective portfolios. In this article, we have covered the in-depth price analysis for The Graph (GRT) and Akash Network (AKT) for the upcoming week.

The Graph (GRT):

The GRT price has displayed a significant bullish price action by recording a surge of 76% in its 24-hour trading volume to $175.346 Million, resulting in the altcoin adding 12.70% to its portfolio within the past day and 21.94% over the past seven days. 

TradingView: GRT/USDT

Moreover, the Graph price has successfully formed a symmetric triangle pattern in the 1D time frame and is on the verge of testing its resistance trendline, the outcome of which is unpredictable. Furthermore, the Cross EMA 50/200-day shows a bullish convergence in the price chart, indicating a strong bullish influence for this altcoin in the crypto industry.

The technical indicator, MACD, shows a constant rise in the green histogram, indicating increased buying-over-selling pressure within the crypto industry. Furthermore, the averages display a bullish pattern, suggesting the Graph token will continue gaining value in the coming time.

If the bulls successfully break out of the symmetric triangle pattern, the price will be prepared to test its resistance level of $0.3550 by the upcoming weekend. However, if the bears overpowered the bulls, The Graph price would fall toward its support trendline.

Akash Network (AKT):

The AKT price has surged approximately 20% within the past day, making it the top gainer among the top 100 tokens of the crypto industry within the past day. Moreover, the Akash Network has added 37.66% within the past seven days and its YTD stands at 136.20%, indicating a positive outlook for this altcoin in the coming time.

Akash Network Price Analysis
TradingView: AKT/USDT

The Moving Average Convergence Divergence (MACD) displays a constant green histogram in the 1D time frame, highlighting an increase in the bullish influence in the crypto space. Moreover, the averages show a significant rise in the chart, indicating a bullish outlook for the AI token in the coming time.

If the Akash Network price continues to trade under a bullish sentiment, it will attempt to test its resistance level of $6.20 over the upcoming weekend. Conversely, a bearish trend reversal could pull the price toward its lower support level of $4.23 this month.

SOURCE

Leave a Comment

HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP HdP