The broader crypto market is recovering after yesterday’s Black Monday. Against this backdrop, the top gainers are TAO, BRETT, and AKT. At press time, the coins had added approximately 52%, 45%, and 43% to their value in the last 24 hours.
TAO is a strong sell despite recent growth
Bittensor’s native token has steadily increased, except for yesterday’s slump. It has many notable milestones in its favor. One of them is Masa’s launch of an AI Data Subnet on the network, which pioneered decentralized AI production.
TAO is a strong sell despite being the top gainer on CMC. Moving averages suggest a strong sell. Exponential moving averages are consistently declining. The 50-day EMA is higher than the 30-day EMA and the 20-day EMA. The 20-day EMA is higher than the most recent 10-day one. This suggests a consistently bearish trend.
Will BRETT finally break $0.1?
Brett, the biggest meme coin in the Base Blockchain, dropped by 10.3% on July 25. That day, a Bitcoin slump triggered a sea of red. Brett hit an all-time high of $0.1933 on June 9. The current price is around 50% below the all-time high.
According to Trading View data, this token is also a strong sell. The Fibonacci pivot point is 0.13132, while BRETT currently trades for $0.095. When the Fibonacci pivot point is higher than the current asset price, the price is below a key resistance level. This often suggests the asset is experiencing downward pressure and may decline if it doesn’t break above this pivot level.
AKT is nearing a key support level
Akash Network’s native token, AKT, gained more than 14% on June 28. It was the top gainer that day while the broader crypto market cooled. The token surged on news that it became available for on-chain staking on crypto․com.
The highest price for AKT was $8.07, recorded over three years ago. The current price is 67.65% lower than that.
AKT is also a strong sell. The next support level to watch is 2.6152, slightly above the token’s current price. If it breaks that level, the trend may turn bullish.
TAO, BRETT, AKT: Recap
The prospects for all three tokens are bearish. If you’d like to take the risk regardless, don’t invest more money than you can afford to lose.
