At press time, Akedo was trading at $0.00247, down 20% intraday. AKE has seen sharp selling and has declined 92% over the past 10 days. The funding rate turned negative to -0.87%, which shows sellers’ dominance in the futures market but is returning to normal. The Akedo price has slipped below a strong support level of $0.003900, which hints at the sellers’ strength.
If the price manages to hold above the next support level of $0.00150, bullish momentum can be seen. Conversely, if the price slips below this level, it would be difficult for buyers to bounce back.