FxWirePro- AKTUSD trades higher ahead of Nvidia earnings, good to buy on dips
Akash is an open network that facilitates the secure and efficient buying and selling of computing resources. Purpose-built for public utility, it is fully open-source with an active community of contributors.
AI-focused crypto’s surge ahead of highly anticipated Q2 earnings of Nvida. Akash and Render surged as both are aligned with Nvidia’s business because they are at the intersection of blockchain and the semiconductor industry. (Souce Crypto news)
AKTUSD showed a minor pullback after a major correction.
Any daily close above $4 confirms further bullishness.
AKTUSD gained more than 35% today after a massive sell-off. The pair holds above the short-term (34 and 55 EMA) and below the long-term moving average in the hourly chart. It hit a high of $2.65 and is currently trading around $2.6648.
The bullish invalidation can happen if the pair closes below $1.50. On the lower side, the near-term support is $2.65.Any close below targets $2.25/$2/$1.495.
The pair's near-term resistance is around $3.40. Any breach above confirms minor bullishness. A jump to $3.85/$4/$4.36/$5 is possible. A surge past $5 will take it to $6.50.
It is good to buy on dips around $2.65 with SL around $1 for TP of $5.
