Akash Network price: Can bulls reach $1?

Akash Network price: Can bulls reach $1?

Akash Network: Revolutionizing Cloud Computing with Blockchain Technology

The blockchain industry continues to gain momentum, as evidenced by the recent surge in the price of Akash Network’s native token, AKT. Akash Network is a decentralized marketplace for cloud computing, and the price of AKT has experienced an impressive 12% increase in the past 24 hours.

Rising Above Resistance Levels

Despite the key resistance level at $0.70, AKT has shown remarkable strength, with bulls leading a sharp bounce in the market. This positive trend indicates a potential upside momentum for the cryptocurrency. Additionally, altcoins are also closely following Bitcoin’s trajectory, suggesting a broader market trend.

This recent surge in AKT’s price could be the foundation for a new attempt to reclaim the highly sought-after $1.00 level. However, in order to solidify this bullish outlook, AKT needs to flip the resistance at $0.70 into a strong support level.

Akash Network Price Prediction

Analyzing AKT’s price movement over the past months provides valuable insights into its future trajectory. In May 2022, AKT lost the important $1.00 level, leading to lows of $0.22 by May 2023. Since then, bulls have repeatedly tested the $0.75 zone without success. The subsequent retest of support at $0.50 in mid-July reinforced the significance of this level.

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Despite these obstacles, AKT has managed to maintain a consistent upward trendline support. This suggests that bulls remain determined to regain control of the market. A break above the $0.75 level could pave the way for a retest of the supply wall at $1.00.

Unleashing the Power of Akash GPU Mainnet

Part of Akash Network’s bullish momentum stems from its upcoming Akash GPU mainnet launch. Following a successful testnet phase in May, which saw multiple AI models tested on the NVIDIA A100, Akash is ready to introduce the world’s first open-source marketplace for high-density GPUs.

The demand for NVIDIA A100s remains at an all-time high, yet distribution remains limited and inefficient. However, the launch of the Akash GPU Mainnet will revolutionize the GPU market by creating an open-source marketplace for these high-performance devices. This development promises to meet growing demands and foster innovation in the AI industry.

A recent tweet from Akash Network highlights the anticipation surrounding this groundbreaking launch:

“The launch of the Akash GPU Mainnet is almost here, which will create the first open-source marketplace for high-density GPUs. The world is ready for the #AISupercloud.” – Akash Network (@akashnet_) August 3, 2023

This tweet, combined with the immense predictions for the artificial intelligence industry, further fuels excitement for what Akash Network calls the “AI Supercloud.” This excitement is likely to cascade into the AKT market, attracting more investors and driving the token’s value even higher.

In conclusion, the blockchain industry continues to evolve at a rapid pace, with Akash Network leading the charge in revolutionizing cloud computing. The recent surge in AKT’s price demonstrates the market’s recognition of the project’s value. With the launch of the Akash GPU Mainnet on the horizon, expectations are high for the AKT token and the entire Akash ecosystem. It is an exciting time for blockchain technology, cloud computing, and the potential fusion of artificial intelligence with the power of distributed networks.

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