Overview of Akash Network (AKT)
Akash Network (AKT) is a blockchain project that provides a decentralized cloud computing platform. This platform allows users to rent out and borrow idle cloud computing resources, offering more efficient and cost-effective cloud services. Akash Network distinguishes itself from traditional centralized cloud service providers through its decentralized approach, giving users more options and flexibility.
Current Issues and News
**Surge After Upbit Listing**
Recently, after Akash Network (AKT) was listed on Upbit, a major cryptocurrency exchange in South Korea, the price of AKT surged by 48%. This listing has significantly increased the liquidity and accessibility of AKT, garnering substantial interest among investors.
**Addition to Coinbase Roadmap**
In February 2024, Coinbase added Akash Network (AKT) to its listing roadmap. This indicates the potential for AKT to be officially supported on Coinbase, causing its price to rise by over 10% in the short term following the news.
**Partnership with Brev.dev**
On April 24, 2024, Akash Network announced that Brev.dev officially started supporting Akash GPU. This partnership is a significant development that enhances the efficiency of AI and machine learning tasks.
**Market Analysis and Outlook**
Recently, the price of AKT has shown volatility, with a steady upward trend from 2023 to early 2024. In April 2024, it reached an all-time high of $6.83 before undergoing a slight correction. Analysts believe that AKT has the potential for continued growth in the future.
Current Price and Chart Analysis
**Current Price**: 6,692 KRW
**24-hour Increase Rate**: +16.08% (927 KRW increase)
**24-hour Trading Volume**: 2,706,023.794 AKT
**24-hour Trading Value**: 16,787,436,437 KRW
**Highest Price**: 6,700 KRW
**Lowest Price**: 5,521 KRW
**Candlestick Chart Analysis**
On the 4-hour chart of the Upbit exchange, AKT showed a significant rise, starting at 5,795 KRW and closing at 6,692 KRW on June 11. The highest price recorded was 6,700 KRW, and the lowest was 5,790 KRW. A large bullish candlestick has formed due to the recent surge.
**Indicator Analysis**
**EMA(5)**: 6,100.3 KRW
**EMA(20)**: 5,942.3 KRW
**Forecast Data**
Despite the possibility of a short-term correction due to the recent surge, the Akash Network (AKT) coin has the potential for further gains if ongoing partnerships and platform improvements continue. Considering the current technical indicators and trading volume, the short-term target price is predicted to be 7,000 KRW, with the support level during a correction expected to be around 6,000 KRW.
**Comprehensive Analysis and Conclusion**
The Akash Network (AKT) coin has garnered significant attention from investors following its surge on the Upbit exchange. This surge appears to be driven by recent announcements of major partnerships and platform improvements. Over the past 24 hours, AKT has risen by 16.08% and is currently trading at 6,692 KRW. The trading volume stands at 2,706,023.794 AKT, translating to approximately 16,787,436,437 KRW in trading value.
From a technical analysis perspective, AKT is exhibiting strong short-term bullish momentum with the EMA(5) at 6,100.3 KRW and the EMA(20) at 5,942.3 KRW. This reflects the recent upward trend, indicating robust buying pressure from investors. The highest price recorded recently was 6,700 KRW, while the lowest was 5,790 KRW, showing significant volatility.
For investors, the long-term outlook of AKT is crucial. If the ongoing technological developments and partnerships continue to expand, AKT could experience positive price movements in the medium to long term. However, in the short term, there is a possibility of a correction following the rapid surge. Therefore, investors should consider 6,000 KRW as a critical support level and set a target price of 7,000 KRW for a cautious investment strategy.
In conclusion, while the Akash Network (AKT) coin is currently displaying high volatility, the combination of technical indicators and recent news suggests potential for further gains. A strategy that considers both the potential for further rises and the possibility of corrections is necessary in the current market conditions. Investors should closely monitor AKT’s technical indicators, news updates, and market trends to make well-informed buy and sell decisions. This approach can help in achieving stable profits while being prepared for sudden market movements.
