Akash Network Price Forecast: AKT Shrinks 2% – Cloud Revolution on Blockchain?

Updated: 23 August 2023

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Akash Network (AKT) has become one of the best performers of the past month, with its price skyrocketing by 133% in the last two weeks.

For the first half of the past 30 days, the token traded sideways, with its price around $0.60. However, on August 8, its price started to increase until it reached $1.40 on August 13.

This strong resistance level rejected the price down to a support at $1.15; for the next several days, the token was trapped between these two levels, fluctuating between them several times.

The situation changed again on August 18 when the AKT suddenly broke the resistance, reaching $1.48.

After a brief correction to $1.40, it surged again, reaching a yearly high of $1.71 on August 20. At this point, the market’s bearish nature finally caught up with it, causing it to drop to $1.30.

However, the correction did not keep it down for long as it immediately started growing again, to $1.50, only to drop for the second time.

This drop was milder, only taking it to $1.34. This happened on August 20, including the yearly high, the fall, the recovery, and another correction. The token traded sideways for less than 24 hours before it surged again, reaching $1.65 on August 22.

However, the market, still bearish, brought it down to $1.40 earlier today, August 23. At the time of writing, Akash Network is recovering, currently at $1.43.

Akash Network Rises Amid Positive AI Sector Forecasts

As mentioned, Akash Network saw a considerable price increase earlier this month, even when most major cryptos were flat. At the same time, investors strongly focus on Nvidia in the US stock market as interest in its AI GPUs grows.

This interest in AI technologies could also enormously benefit Akash Network, which seeks to create the world’s first decentralized AI Supercloud.

The project has successfully deployed multiple AI models on its GPU Testnet. Nvidia’s GPUs have also been tested on the network as projects wish to leverage AI in dApps.

With AI and blockchain continuously approaching each other, projects that deal with AI technologies stand a much greater chance of decoupling from the crypto market’s trend-setting coins like Bitcoin and pursuing their path.

yPredict Emerges as Most Popular New AI Crypto Project

Speaking of the popularity of AI, a new presale confirms that the AI in crypto is skyrocketing. The new project, yPredict (YPRED), is in the middle of a presale that has managed to raise over $3.56 million at the time of writing.

The project sells YPRED tokens for $0.1, which can be bought in exchange for ETH, MATIC, USDT, BNB, or via credit/debit card.

yPredict intends to be a one-stop shop for developers, analysts, and traders. Anyone who wishes to receive trading signals, technical and fundamental analysis, or chart pattern recognition done by AI can turn to this project.

AI is well-known to be much faster and more precise at noticing patterns and signals than humans, and relying on projects like YPRED could benefit new traders.

The project offers state-of-the-art predictive models and data insights built by the top developers in the field.

This service can go beyond financial markets, providing participants with an unbeatable edge in other industries, including health and HR.

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