South Korea Sees Surge in Crypto Trading Volume, XRP Hits $86.5 Million
- Volume Surge: In the past 24 hours, trading volumes on South Korea's largest cryptocurrency exchanges, Upbit and Bithumb, have surged sharply, with XRP reaching approximately $86.5 million, indicating strong interest from South Korean investors in specific projects.
- Local Momentum: This concentrated increase in trading volume, primarily in Korean won, suggests the emergence of local momentum independent of global markets, potentially attracting more investors to the region.
- Top Token Performance: Notable tokens like Hyperlane and DeepBook have also shown impressive trading volumes of approximately $52.7 million and $38.0 million respectively, reflecting market recognition and enthusiasm for emerging projects.
- Market Trends: As trading volumes rise, the activity level in the South Korean crypto market is increasing, which may encourage more investor participation and further drive the development of the region's cryptocurrency ecosystem.
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Technical Analysis for AKT
Technical Sentiment Analysis for Akash Network (AKT) As of , Akash Network (AKT) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AKT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AKT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Akash Network (AKT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.087 | 0.17 | 0.258 | 0.341 | 0.429 | 0.512 | 0.601 |
| Fibonacci | 0.17 | 0.235 | 0.276 | 0.341 | 0.406 | 0.447 | 0.512 |
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