AKTIO/USDC - (BUY) AKTIO recovery engaged towards 1,03 a head of MICA Licence
Market & Ticker: RAYN – AKTIO/USDC
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Date: 24/05/2024
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 the current level, a key support is defined at 0,3360 to anticipate a further recovery towards 0,4250/0.4830 on the short-term before 0.5830 and 1.03 on the mid-run.
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.
NB3: AKTIO is now only available for trading in USDC or BTC after having delisted USDT pair aligned with MICA regulation. For this reason, the historical price has been erased since the launch of the token impacting the display of key technical elements.
Technical Key Elements:
- Fibonacci key support is adjusted at 0,297 while the key resistance is adjusted at 0,773 and 1,03
Trade Idea conclusion: Buy
Upside swing trade
- Target 2: 0,773
- Target 1: 0,554/0,609
- Buy swing: add in dip area above 0,385
- Stop: 0,297 (daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
Disclaimer: The content of this analysis should not be considered as a study, an investment advice or a recommendation concerning products, strategies or a particular investment opportunity. This content is strictly for illustrative, educational or informational purposes and is subject to change. Investors should not base their investment decision on the content of this site and are strongly recommended to seek independent financial advice for any investment they are considering.
