With the increased price volatility in the crypto market, the Bitcoin price has successfully reclaimed the $69,000, resulting in a bullish rebound. Moreover, top altcoins have followed in their footsteps and displayed a similar trend in their respective portfolios.
Will the Artificial Intelligence (AI) category record a strong bullish bounce back this week amid increased price volatility in the cryptocurrency market?
Dive in as, in this article, we have covered the short-term analysis and price targets for Oasis Network (ROSE) and Akash Network (AKT).
ROSE Price Displays A Bullish Price Action:
The Oasis price continues to display a bullish price action by adding 13.18% within the past day and 16.52% over the past week. Furthermore, the AI token has added 38.58% within the past 30 days, indicating a bullish influence in the crypto space.
Positively, the Cross EMA 50/200-day displays a high possibility of a Golden Cross in the 1D time frame, suggesting a strong bearish sentiment for the altcoin this week.
The technical indicator, RSI, shows a constant uptrend toward the overbought range, indicating an increase in the buying-over-selling pressure in the crypto space. Moreover, the average displays a bullish convergence, suggesting a positive outlook for the Oasis coin price in the coming time.
If the market holds the ROSE price above the support level of $0.11320, the bulls will regain momentum and prepare to test its upper resistance level of $0.161. Conversely, a bearish reversal could pull the Oasis Network price toward its crucial support level of $0.08775 this month.
Akash Network (AKT) Price Analysis:
After recording a correction of 26.46% by trading under a bearish sentiment over the past month, the AKT price has displayed a positive price action by adding approximately 4% to its portfolio within the past 24 hours.
The Moving Average Convergence Divergence (MACD) displays a constant decline in the red histogram, indicating an increase in the buying pressure in the market. Moreover, the average shows a recovery in the chart, suggesting a high possibility of a bullish reversal during the upcoming weeks.
If the market pushes the AKT crypto above the resistance level of $4.327, the bulls will regain momentum and prepare to test its upper resistance level of $6.20. However, if the bears overpowered the bulls, the Akash Network price will test its support level of $3.212.
