FxWirePro- AKTUSD (Chart of the day)

Akash is a decentralized and open-source cloud computing platform. It uses a Delegated Proof-of-Stake mechanism to achieve consensus.

ASTRUSD showed a massive rally after a minor correction.

Any daily close above $6.50 confirms further bullishness.

AKTUSD gained more than 15% in the past two days. The pair holds above the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a high of $4.91 and is currently trading around $4.74.

The bullish invalidation can happen if the pair closes below $3. On the lower side, the near-term support is $4.20.Any close below targets $3.65/$3.30/$2.65/$1.490.

The pair's near-term resistance is around $5. Any breach above confirms minor bullishness. A jump to $5.80/$6.50 is possible. A surge past $6.50 will take it to $8.

It is good to buy on dips around $4 with SL around $3 for TP of $6.50.

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