The post Will Helium and Akash Network Altcoins Give A Breakout Run? appeared first on Coinpedia Fintech News
As the broader market recovery takes a slow approach due to increased volatility, altcoins take a conservative approach. With Bitcoin under $59K, the altcoins market is cautiously moving forward.
Amidst such conditions, Helium and Akash Network lead the bullish way ahead with increasing chances of a breakout run. So, let’s take a closer look at the price charts of both the altcoins and determine the breakout run chances.
Top Altcoins To Watch: Helium (HNT)
With a trendline breakout in the daily chart, Helium shows a trend reversal rally gaining momentum. The HNT price has increased by 118% in the last 36 days from the low of $3.046. Further, the growing bullish influence leads to a positive crossover in the 50D and 200D EMA, resulting in a golden cross.
Based on the Fibonacci levels, the HNT price has surpassed the 50% Fibonacci level at $6.45. Currently, the Solana killer trades at $6.593 and an intraday pullback of 5.39%.
The MACD and signal lines give a bullish crossover, supporting the uptrend chances. A bullish breakout of the 61.80% Fibonacci level at $7.30 will result in a price jump to $10. Optimistically, a longer-term target for the altcoin will be the 1.618 Fibonacci level at $14.49.
Akash Network (AKT)
Similar to Helium, the Akash Network shows a solid overhead trendline in action. However, with the presence of a declining support trendline, the AKT price action forms a falling wedge pattern.
The downtrend in the bearish wedge drops the AKT price to the $2 psychological mark. However, a quick reversal leading to the ongoing bull cycle tests the overhead trendline, teasing a bullish breakout.
As per the Fibonacci levels, the falling wedge breakout run could fuel the uptrend in the altcoin to reach the $4.14 mark. Optimistically, with a broader market recovery, AKT price could reach the 78.60% Fibonacci level at the $5.38 mark