Akash (AKT) Price Analysis: Reward Stakers With Proportional Tokens Staked, Length of Lockup Time, and Overall Tokens Staked in the System

Akash is the world's first and only Super cloud for serverless computing, enabling anyone with a computer to become a cloud provider by offering their unused compute cycles in a safe and frictionless marketplace.

Akash (AKT) is a decentralized cloud computing platform that enables anyone to offer their unused compute cycles in a safe and frictionless marketplace. The platform is powered by the Cosmos SDK and uses Proof-of-Stake consensus to secure its network of decentralized validators.

AKT serves as the native token of the Akash network and is used for various purposes, including paying for cloud computing services, staking to participate in the network's consensus mechanism, and earning rewards for contributing to the network's security and efficiency.

In terms of price analysis, AKTUSD has recently experienced a significant rally following a period of correction. The token's price surged after finding support at crucial levels, setting the stage for further bullish price action.

As highlighted in the technical analysis, any daily close above $6.50 would serve to confirm the continuation of bullish price action. Conversely, if the pair fails to sustain above this level, it could indicate a potential price decline.

Over the past two days, AKTUSD has registered a gain of nearly 25%. The pair continues to trade above both the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. From a price perspective, AKTUSD hit a high of $3.28 and is currently changing hands at $3.266.

On the downside, the bullish invalidation can occur if the pair closes below $2.50. With that in mind, let's take a closer look at the lower support levels.

Starting at $2.50, we encounter the first line of support, followed by targets of $2 and $1.495 if the pair fails to hold at $2.50.

Moving in the opposite direction, the pair faces initial resistance around $3.42. Should AKTUSD manage to breach this level, it would open up the possibility for further price appreciation. Any sustained price movement above $3.42 could lead to a continuation of bullish price action, potentially targeting $4, $4.36, and $5 in succession.

Finally, if the token manages to surge past $5, we can expect a price movement toward $6.50.

Considering the technical analysis and price movements, one strategy could involve buying on dips around $3 and placing a stop loss (SL) at $2.50, aiming for a price target (TP) of $6.50.

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