Akropolis Price Prediction: AKRO Flat at $0.01215 – Are DeFi's Underdogs Making a Comeback?

Akropolis Price Prediction: AKRO Flat at $0.01215 – Are DeFi’s Underdogs Making a Comeback?

Updated: 23 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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The Defi protocol Akropolis AKRO has slightly declined today following its impressive price movement in the past few weeks. At 7:11 EST, AKRO’s price is down by 4% and is trading at $0.01172.

The trading volume of the asset is down by 67% in the last 24 hours. While the bears celebrate control over the DeFi coin, will the bull regain enough momentum to facilitate a rebound?

Akropolis AKRO’S Price Trends Suggests Buyer Dominance in Past Week

AKRO has recorded a significant and rapid price increase, leading it to reach its highest value in 2023. In the last 30 days, the price has increased by 154% and 44% in the past week.

Technical Indicators Point Toward Bullish Trend Continuation

As shown on the chart, Akropolis’s price is trading above both the 50-day and 200-day Simple moving Averages SMA, indicating a bullish price momentum in the long and short term for the asset.

Also, the Moving Average Convergence Divergence MACD trades above the signal line with green histogram bars, further supporting the buyer’s market dominance.

Additionally, the Relative Strength Index RSI of 66.05 suggests the market is relatively neutral and hasn’t reached the overbought zone yet. A trend reversal could occur if AKRO trades into the overbought price zone.

Information from the above technical indicators denotes that AKRO’s price is still on its bullish price trajectory, and we can see more upside for the asset in the coming weeks.

Akropolis Bulls Show Resilience as Price Consolidates Around Resistance Zone

The chart illustrates that AKRO’s price declined quickly after reaching the $0.01316 resistance zone. The asset is consolidating around this zone, with buyers hoping to increase the price.

If the sellers nullify the current buy pressure, AKRO’S price could retest its previous support zone of $0.00837, indicating a short-term bearish price movement for the asset.

However, market observers and Defi enthusiasts are positive for a bullish market outlook for the asset in the coming weeks.

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