Akash Network [$AKT] gained more than 14% in the past 24 hours as altcoins attempted to recover from the week’s selling pressure.
The move came as Bitcoin [BTC] rose over 2.5%, lifting several higher-beta assets, including Ethereum [ETH], Ripple [XRP], Solana [SOL], and $AKT.
Even so, several on-chain metrics remained mixed despite rising volume, development activity, and a technical breakout.
Can Akash Network build on this rebound?
Akash Network [$AKT] rebounded from a former resistance zone that had acted as a support area after May’s breakout.
$AKT traded between $0.436 and $0.526 for more than a month before breaking higher and rallying toward $0.960. The $0.526 level later flipped into support and emerged as a key buying area.
The Cumulative Volume Delta (CVD) improved from negative 1.74 million to a daily peak of 337,000 $AKT. That shift suggested buyers regained control after a period of sustained selling pressure.
On top of that, momentum indicators showed early signs of improvement.
The MACD turned positive for the first time in June on the 4-hour chart. Its signal line also crossed higher, pointing to strengthening momentum.
However, $AKT still needed to reclaim the $0.70-$0.75 zone to strengthen the bullish case.
Until then, the broader short-term structure remained weak, leaving the latest move vulnerable to a pullback.
Is network activity improving again?
On-chain activity painted a mixed picture, though several key metrics showed renewed growth.
Token trading volume doubled over the past two days, rising from $8.38 million to $16.25 million. Monthly trading volume also climbed 54% to $414 million.
Development activity improved as well.
Code commits increased 20% over the past month, reaching roughly 269. That move aligned with stronger network usage.
According to DeFiLlama, fee revenue continued rising through mid-May. Peak fees reached $7,858, while daily revenue climbed to $5,186.
Higher fees typically reflect greater network activity, suggesting usage remained healthy during the rebound. Taken together, these metrics pointed to improving engagement across the network. Even so, sustained growth may be needed before a broader bullish trend can take shape.
Final Summary
- $AKT recovered 14% after rebounding from a former resistance zone that has now turned into support.
- The $0.70-$0.75 zone remains the key area $AKT must reclaim before a broader trend recovery can be considered.
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