Akash Network slides 14%, but Binance traders are still long the dip like it's a group project 📉💪

Akash Network's AKT token fell 14.14% over the past 24 hours and traded near $0.744, even as daily trading volume climbed 70.31% to $18.85 million. The combination of rising volume and falling price pointed to active distribution rather than waning interest, with sellers tightening their grip during the latest session.

On Binance, however, retail positioning told a more optimistic story. CoinGlass data showed that 63.85% of accounts were long AKT versus 36.15% short, pushing the Long/Short ratio to 1.77. That ratio had climbed from lower levels earlier in June, indicating that bullish exposure continued to build even as the price extended its losses.

The daily chart remained constructive. AKT held above the key $0.676 support zone, an area that previously triggered a rebound toward higher resistance, with the next major floor resting near $0.568. On the upside, a major resistance barrier sat near $0.906, and recent attempts to test that level failed, contributing to the latest pullback.

Momentum indicators stayed neutral. The Relative Strength Index stood at 52.09, with its signal line near 47.15, having earlier recovered from oversold territory in June and crossed above its moving average. Although RSI eased slightly during the correction, it remained above the midpoint, leaving room for buyers to reassert control near support.

The liquidation heatmap highlighted dense liquidity clusters between $0.90 and $0.92, with the strongest concentration positioned near $0.906, alongside closer pockets between $0.79 and $0.85. These zones often attract price movement as leveraged positions accumulate, and current trading sat well below them after the slide toward the $0.74 region.