Coin Name: #AKT
Position: LONG🚀
📉 A descending triangle breakout 📈 is forming on the Akash Network (AKT/USD) chart! The price found support in the green zone 🟩, showing strength 💪. After bouncing back, the price is testing the downtrend line 🔵 and has broken it 🚀, signaling potential upward movement 📈. If momentum holds ⚡, it could climb through these targets, building bullish confidence 🌟. The setup relies on sustaining the support zone and bullish pressure 💹. A clean breakout confirms the upward trend ⬆️!
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📊 Here this chart shows Bitcoin dominance in an Ascending Channel 📈 (blue), suggesting a gradual upward trend. However, a Bearish Divergence ⚠️ on the RSI 📉 indicates weakening momentum, warning of a potential downside breakout 🔽. The dominance has respected the channel boundaries 🔵 but is now heading towards a potential breakdown 🚨. Traders 🧑💻 should watch for confirmation of a trend reversal 🔄, as a bearish move could signal a shift in market dynamics 🌐. Bears 🐻 are eyeing the pattern for short opportunities, while bulls 🐂 may step in near key support levels.
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📊🔺 Symmetrical triangle pattern! 🟢 Bullish breakout 🚀 expected 📈. Price consolidates ↔️, forming lower highs 📉 and higher lows 📈. The breakout 🔓 occurred upwards 📊, targeting resistance 🎯 in the gray zone 🔳. This indicates a positive market trend 🌟 and growth potential 🌱. Symmetrical triangles often signal continuation 📈 in trends when broken 🚀 upward, as seen here.
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Entry Price: 2.80 or Market Price
Target🚀:
$3.088 (1st TP 🥇),
$3.282 (2nd TP 🥈)
$3.846 (3rd TP 🥉).
📌 Special Note:
⚠️ Use only 1% of your portfolio 💼 to manage risks effectively. Avoid high leverage 🚫 and proceed cautiously to mitigate potential losses 📉. Always prioritize risk management ✅.
#AKT
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