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Akash Network drops 12% as selling pressure mounts and trading volume falls sharply.

Technical Signals
16 May 2026
AMBCrypto
View Source
Bearish
pluang ai news

Akash Network (AKT) saw a 12% price drop and a 32% decline in trading volume amid heavy selling pressure after a rapid rally toward $0.90. Market cap fell over 13% to around $204 million, reflecting weakening investor confidence. Despite persistent outflows indicating cautious investor behavior, sellers dominated below the key $0.906 resistance, pushing AKT toward the $0.595 support level. Long liquidations surged as traders reduced bullish bets, signaling potential further downside if support fails to hold.

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