Akash Network [AKT] remained under pressure during the latest session as sellers tightened their grip on the market. At press time, the token fell 14.14% over the past 24 hours and traded near $0.744. Despite the decline, trading activity accelerated sharply.
Daily volume climbed 70.31% to $18.85 million, showing that participants increased their activity during the sell-off rather than stepping away from the market. This combination of rising volume and falling price often reflected stronger conviction from sellers.
As a result, the latest decline appeared driven by active distribution rather than a lack of interest.
Why are AKT’s traders still leaning bullish?
Sentiment among Binance traders painted a very different picture from the price action. CoinGlass analytics showed that 63.85% of accounts remained long, while only 36.15% held short positions. This pushed the Long/Short ratio to 1.77, highlighting a clear bullish bias despite the ongoing correction.
The positioning trend had strengthened over recent days as the ratio climbed from lower levels recorded earlier in June. Traders continued to increase bullish exposure even as AKT extended its losses.
The persistent long dominance showed that traders had not abandoned expectations of a broader recovery despite the recent weakness.
AKT approaches a decisive technical zone
Price structure remained constructive on the daily chart despite the recent correction.
AKT continued to hold above the key $0.676 support level, a zone that previously triggered a strong rebound toward higher resistance. Below that area, the next major support rested near $0.568. As long as buyers defended these levels, the broader recovery structure remained intact.
The chart also highlighted a major resistance barrier near $0.906. Recent attempts to challenge that zone failed, which contributed to the latest pullback. At the time of writing, RSI reflected a neutral outlook rather than outright weakness. The indicator stood at 52.09 while its signal line remained near 47.15.
Earlier in June, RSI recovered from oversold territory and crossed above its moving average, indicating improving market strength. Although RSI eased slightly during the correction, it continued to hold above the midpoint.
If buyers regain control near support, AKT could attempt another move toward the $0.906 resistance area.
AKT’s liquidity concentration above $0.90 draws attention
The liquidation heatmap revealed a notable concentration of liquidity above current prices. Several of the largest liquidation clusters sat between $0.90 and $0.92, with the strongest concentration positioned near $0.906.
Markets frequently gravitated toward such liquidity zones because leveraged positions accumulated around these levels. Current price action remained significantly below that cluster after the recent decline toward the $0.74 region.
However, the presence of dense liquidity overhead suggested that a recovery could attract price toward those levels if buying pressure strengthened. Closer liquidity pockets also appeared between $0.79 and $0.85, creating intermediate targets before any test of the larger resistance zone.
On the downside, liquidity remained comparatively lighter beneath current levels.
Final Summary
- Binance traders remained heavily long despite Akash Network extending its recent decline.
- Key support held firm while major liquidity clustered near overhead resistance.
