After rallying to around 0.003 and hitting the historical resistance level, the upward momentum quickly exhausted. This was then followed by a major token unlock event: 9.25% of the circulating supply was concentrated and sold off, kicking off a series of consecutive pullbacks. Over seven days, it fell 18%, portraying, “How crazy it was when it went up, how desperate it was when it pulled back.”
The main reasons are three:
1. It reached the historical high resistance zone, causing a large amount of early profit-taking to concentrate and exit—like a roller coaster reaching the top and the passengers all getting off;
2. After RSI remained overbought for a sustained period, it turned downward, forming a clear bearish divergence—this is a standard signal to exit;
3. A large-scale token unlock is the core negative catalyst. The project team and early investors cash out their low-priced holdings in a concentrated manner. The resulting short-term selling pressure can’t be absorbed, and the market is immediately under pressure.#AKE
$AKE
The main reasons are three:
1. It reached the historical high resistance zone, causing a large amount of early profit-taking to concentrate and exit—like a roller coaster reaching the top and the passengers all getting off;
2. After RSI remained overbought for a sustained period, it turned downward, forming a clear bearish divergence—this is a standard signal to exit;
3. A large-scale token unlock is the core negative catalyst. The project team and early investors cash out their low-priced holdings in a concentrated manner. The resulting short-term selling pressure can’t be absorbed, and the market is immediately under pressure.#AKE
$AKE