The AKT token has successfully reclaimed the 20-day exponential moving average (EMA), implying potential for further upward movement. AAVE and KASPA have also shown positive performance this week. Analysts believe that the token has the potential to extend its gains towards the 50-day EMA mark.
At the current moment, Akash is trading at approximately $3.60. As the ecosystem expands, the AKT token is anticipated to play a crucial role in enabling and securing decentralized cloud services. In April, Akash experienced a significant surge of over 50% to nearly $7 after being listed on the South Korean exchange Upbit, resulting in a market cap surpassing $1 billion.
AKT currently has a market capitalization of $871.91 million and a 24-hour trading volume exceeding $21 million. Despite the broader cryptocurrency market declining by 3.8% over the same period, AKT has shown impressive performance, with its value rising from approximately $79 to over $96. Aave has demonstrated strong momentum despite the overall market downturn and is currently trading at around $94.96 in a horizontal channel pattern.
This pattern indicates a sideways trend with projected resistance levels at $155.44 and support at $90.23 and $50.39. The community has also expressed support for Seamless, a protocol fork that offers an alternative decentralized lending solution. Analysts foresee continued growth, estimating a price range from a minimum of $82.11 to an average of $187.04, potentially reaching a maximum of $200.33 by year-end.
Technical indicators point to potential market trends. The 50-day moving average (50MA) suggests a potential uptrend, with its position above the current price. The relative strength index (RSI) is currently at 75.2, signaling an overbought market and hinting at a potential price pullback.
The average directional index (ADX) at 35.7 indicates strong trend momentum, while the relative volatility index (RVI) at 68.4 shows moderate volatility within the market. Several factors are driving the potential growth of KASPA.
