#AKT Technical Analysis in a Daily Timeframe

11. Sept.Hello everyone, I’m Cryptorphic.
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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.


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