#AKT Technical Analysis in a Daily Timeframe

11 Sep

Hello everyone, I’m Cryptorphic.
I’ve been sharing insightful charts and analysis for the past seven years.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

AKT is currently in a downtrend, struggling to break above the resistance trendline and the 50 EMA. It has been forming a lower-low, lower-high pattern, but recently, it has been attempting to reverse to a higher-high, higher-low pattern.

To confirm this reversal, AKT needs to break above the resistance level at $2.67 and close above the previous lower high at $2.992 on the daily chart. This would signal a shift toward an uptrend.

On the bearish side, if AKT fails to hold the dotted support line, the reversal will be invalidated, and the price will likely drop toward the $1.80 support line, which could present a decent entry range.

Key levels:

- Primary Support: $2.23.
- Lower Support/Entry: $1.8.
- Crucial Resistance: $2.67-$2.992.
- Long-term Target: $6-$8.

DYOR, NFA.


Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE