Crypto Market Outlook: Signs of Recovery Emerge
Despite bearish market sentiments, certain cryptocurrencies have shown signs of recovery. The global market capitalization has declined to $2.41 Trillion, while the fear and greed index stands at 53. The 24-hour trading volume remains subdued at $72.8 billion. Bitcoin's price has fallen to $66,198.
Top Cryptos Poised for Recovery
Akash Network (AKT)
AKT has gained 8% in the past 24 hours, signaling the start of its recovery journey. Its decline began earlier than other cryptocurrencies and has persisted for weeks, resulting in a 40% value loss. However, increased network activity has triggered a 183% surge in trading volume to $47,525,537. Technical indicators and moving averages suggest a strong buying zone. The Relative Strength Index (RSI) of 57.543 indicates buyer dominance. Akash Network has attempted two peaks over the past three months, reaching $6.19 in March, its closest approach to its all-time high of $8.08 set three years ago. A similar rally is anticipated this month.
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