The cryptocurrency market has displayed a notable recovery today, with several tokens showing significant gains. Among these, Kaspa (KAS), Maker (MKR), and Akash Network (AKT) stand out due to their impressive performances. Let's delve into the price analysis of each of these top gainers.
Kaspa rose with a 9.51% in the last 24 hours and is now at $0.1762. This is backed by a huge increase in trading volume which is up 165.19% to $159,640,780. The increase is due to the growing interest of investors in Kaspa’s proposition in the blockchain space
Technical analysis shows the price is near a resistance of $0.18. RSI for Kaspa is approaching the overbought level which means there’s a lot of demand for the token. If Kaspa continues like this, it may test the resistance at $0.183. If it breaks through this level, it could be good for Kaspa and take the price to new highs possibly to $0.205.
Maker’s price has bounced back and is up 8.53% in the last 24 hours to $2,533.09. This is after a series of bearish candles which may mean a change in the trend. Maker’s trading volume is up 28.64% to $310,956,033 which means more activity and interest from the traders.
Technical analysis of Maker shows that the technical indicators are bullish at the moment. MACD is a green histogram which means buying pressure is increasing. SMA also showed a bullish crossover which means price will continue to go up. If Maker continues like this it may retest the recent resistance of $2,536 and if the trend continues it may go to other higher resistances.
Akash Network is up 5% in the last 24 hours and other projects are also up. It’s down 14% in the last 24 hours and is now at $3.17. This is backed by 100% increase in trading volume from yesterday’s $49,474,818. Ichimoku Cloud, a technical analysis tool that shows momentum and future support and resistance levels, shows that Akash Network is trading near the cloud which means the trend will continue.
RSI for Akash Network is 59 which means there’s still room for price to rise before it goes overbought on the short timeframe. So Akash Network has a good environment to continue the trend without worrying about overbought in the near term.