$AKE remains under heavy selling pressure. The hourly and daily charts, as well as BTC, confirm the downward trend. The price is below EMA20 and EMA200.
The nearest downside target is $0.00291. If this level fails to hold, the next area of interest is $0.00240–$0.00220.
For selling, I’m considering a return to $0.00487 or a bounce into the $0.004493–$0.004352 area, with confirmation of a rejection of further gains.
Sellers still have the upper hand: funding and order flow confirm buyers’ weakness.
The scenario is invalidated above $0.005760.
For now, there isn’t enough reason to expect a reversal. My bias remains to the downside.
The nearest downside target is $0.00291. If this level fails to hold, the next area of interest is $0.00240–$0.00220.
For selling, I’m considering a return to $0.00487 or a bounce into the $0.004493–$0.004352 area, with confirmation of a rejection of further gains.
Sellers still have the upper hand: funding and order flow confirm buyers’ weakness.
The scenario is invalidated above $0.005760.
For now, there isn’t enough reason to expect a reversal. My bias remains to the downside.