As the market regains momentum after days of intense correction, the high-potential altcoins are ready for a new bullish break. Further, with the Asian markets slowly overcoming the hit from the Iran-Israel conflict, the crypto market could find an additional boost with a bounce in U.S. Markets today.
Amidst such high anticipation of a recovery rally, the Akash Network and Nervos Network present high-potential opportunities. Will these altcoins manage to outshine the broader trend to become top performers with a breakout rally?
Let’s check their price action analysis to figure out the upcoming trend in AKT and CKB prices.
With the top altcoins struggling to find a solid footing for a reversal, the CKB price trend stands at a pivotal stage. Despite the recent pullback of almost 40% from the overhead resistance trendline, the altcoin rests at the 50D EMA.
Further, the altcoin sustains above the 50% Fibonacci retracement level and teases a bounce back. Currently, the CKB price trades at $0.021944 and struggles to avoid a dip under the dynamic support of 50D EMA.
A reversal rally with additional support from broader market recovery could fuel the bull run to the $0.050 psychological mark.
Also Read : Top Altcoins With High Recovery Potential To Buy This Week
With a bearish breakdown of a critical support trendline, the first look of the AKT price chart reflects a bullish struggle. However, the sharp downfall in the altcoin price is taking support at a confluence of critical demand elements.
The 43% drop in the altcoin tests the 200D EMA and the crucial demand zone of $3.20. Currently, the breakdown rally fails to gain any significant momentum to breach the support confluence.
Further, the reversal rally in the altcoin price aims for an underthrow move to resurge above the broken trendline. By doing so, the buyers could limit the death cross chances and signal a recovery rally.
Optimistically, the reversal rally could height at the $6 mark.
Also Check Out : Top 3 Cryptocurrencies Worth Investing As Altcoin is Around Corner
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