Akash Network (AKT) is making a strong breakout along with the market recovery, will the 1 USD mark be conquered soon?

Similar to the strong bounce back of the entire market, Akash Network (AKT) – the native token of this platform – had an impressive breakout over the past weekend. The fact that Bitcoin (BTC) regained the 115,000 USD mark became a catalyst that helped AKT surge by 31% in just one day on October 26.

As of the time of writing, the bulls are still maintaining their upward momentum and are striving to reclaim the important psychological level of 1 USD, amid expectations that the market is about to enter a week that will receive more positive signals from the macroeconomy.

Daily chart of AKT/USDT | Source: TradingViewNotably, if it successfully surpasses the 1 USD mark, AKT could trigger a new wave of increase, opening up opportunities to approach the target zone of 1.5 USD. However, the unanswered question is: is the current momentum strong enough to sustain this upward trend?

Whale Activity and Profit-Taking Pressure

The recent price surge of AKT coincides with a boom in the activity of “whales” in the market.

According to data from CryptoQuant, the deep correction in October is believed to be related to a series of large-scale buy orders from whale wallets on the spot market.

Source: CryptoQuantAlthough this indicator cannot accurately determine their trading direction, such a strong level of activity has likely contributed to triggering the impressive price bounce back on Sunday.

Notably, this bounce back coincided with the severe disruption of the AWS cloud computing service (Amazon Web Services) last week – causing many Web3 applications relying on AWS to be paralyzed.

In the meantime, Akash Network – a decentralized cloud computing platform in the Web3 space – continues to operate steadily. Not only that, but the project also skillfully leverages the incident to assert its position as a highly promising alternative solution to the centralized model.

“Turn this failure into a wake-up call,” Akash Network stated.

The market remains stable, with no signs of “overheating”.

Current data shows that the market has not exhibited signs of excessive speculative bubbles — a factor that often leads to the risk of mass liquidation or strong reversals.

According to the Futures Volume Bubble Map, the trading volume of futures contracts is still in the “cooling phase” (. Warning signals of overheating, such as “Overheated”, which are typically represented by red bubbles – a sign of local peaks and potential reversals – have not yet appeared.

![akt-tang])https://img-cdn.gateio.im/webp-social/moments-99de790ae969b088c8992fa102059dda.webp(Source: CryptoQuantIn other words, even though it is temporarily hovering around the 0.85 USD level after a 31% bounce back, AKT still has the opportunity to continue challenging the resistance levels above. However, the bulls need more time to consolidate their strength and create a solid momentum to return to the 1 USD mark.

Notably, in the past few hours, the amount of tokens deposited on the exchange has exceeded the amount withdrawn, indicating that profit-taking pressure is increasing after the strong rally over the weekend.

![])https://img-cdn.gateio.im/webp-social/moments-5c8e89ff5cd4f386ec036ae3429c289c.webp(Source: CoinGlassBefore this pressure eases, it is likely that AKT will continue to fluctuate below the 1 USD mark, before it can restart the upward trend towards higher target areas.

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