AKTIO/USDC - AKTIO is evolving without clear trend signal now.
Market & Ticker: RAYN – AKTIO/USDC
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Date: 03/07/2024
Scenario:
AKTIO the native token of Rayn app surged sharply by the end of February ending the bearish cycle engaged in 2022. AKTIO price action sensibility is linked to the trading volume activity of the Rayn app which registered a significant client adoption with recent product development aligned with recent BTC and ETH rapid upside trend which waking up the appetite into the crypto market by the mass market.
At current price AKTIO is digesting the post BTC Halving phase like the global crypto market and trade withing a consolidation channel waiting for a new appetite gain probably post summer 2024.
At the current level, a key support is defined at 0,18 while the key resistance is set at 0.3040. Only a clear break of 0.3040 would confirm a significant recovery phase to start.
NB: An active buyback program from Rayn team is in place since January 2024 allowing the token to prevent from significant seller.
NB2: AKTIO has been listed on several new exchanges with a road map for a listing on top exchange this year to raise adoption.
Technical Key Elements:
- Consolidation channel between 0,21 and 0,2820
- Fibonacci key levels set at 0.18 and 0.3040
- Long-term key Fibonacci projection set at 1,03
Trade Idea conclusion: No clear directional
- Resitance 2: 0,50
- Resistance / Confirmation: 0,2820/0,3040
- Support: 0,18
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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