Cryptocurrencies plunged as bond yields increased.
The majority of coins bounced back in what might be called a dead-cat bounce.
The crypto currencies stabilised on Saturday, after experiencing one of the worst performances in recent months. After settling at $29,000 for several weeks, Bitcoins plunge to $25,000. Sei, a new token, has fallen by more than 80% since its peak. This article will take a look at the top performing tokens such as THORChain Bitcoin SV or Akash network.
Akash Network price prediction
Akash Network’s AKT did not go through a major meltdown this week. On the daily graph, the token has reached its highest point since April of last year, $1.5580. The token is above both the 25-day and 50-day moving averages, while the Relative Strength Index has moved over the overbought levels.
Akash Network also turned the important resistance at $0.7462 in to a support. This level was important because it was at its highest on the 1st of June and 4th of July. The token is now forming what appears to be a double top pattern with the neckline at $1.1077. Double-top patterns are usually bearish in most periods.
The price of Akash Network will most likely fall.