AI Tokens Regains Momentum! AKT Price To Reclaim $3 This Week?

The post AI Tokens Regains Momentum! AKT Price To Reclaim $3 This Week? appeared first on Coinpedia Fintech News

The Artificial Intelligence tokens continue to gain significant value in their respective portfolios, indicating a rising interest of investors in them. Further, the AKT price has added over 12.5% during the early trading hours today, making it the top gainer of the day.

The AKT price concluded the year 2023 on a neutral trend by trading in a consolidated range between $2.230 and $2.5421 for the last two weeks of the month. As the market volatility grew, the AI sector gained significant momentum, resulting in the Akash Network price jumping by over 35% within the next two days.

Following this, the price faced a minor retest at its support level of $2.7598. The bulls then regained momentum and recorded another jump of 18.5% in valuation. After this, the Akash Network token traded sideways in a closed range between $3.0205 and $3.2775 for a while.

After multiple attempts to break out of the range, the bulls lost momentum and recorded a correction of 16%. Following this, the AKT token price traded in a consolidated range between $2.7598 and $3.0205, indicating a cool-off in the price action.

The price experienced a strong bearish move resulting in it losing over 18% within the next few days. The Akash Network token tested its important support level of $2.3758, following which the bulls regained power and jumped over 12% within the last 24 hours.

Will AKT Price Increase?

The technical indicator, MACD, displays a rising green histogram, highlighting an increased buying-over-selling pressure in the market. Moreover, the averages show a bullish convergence, suggesting the price will continue to gain value in the coming time.

If the market pushes the price above the resistance level of $2.7598, the AKT price will test its upper resistance level of $3.0205 soon. Further, if the bulls hold the price at that level, Akash Network will prepare to test its resistance level of $3.2775 over the weekend.

Negatively, if a trend reversal occurs, the AKT token will lose momentum and fall to test its support level of $2.3758 by the weekend. Moreover, if the bears continue to hold power over the bulls, it will further plunge and prepare to test its crucial support level of $2.2350 during the coming days.