At press time, Akedo price was trading at $0.006700 which has surged by 150% in just 4 hours. The funding rate has sharply increased to 0.1845% which showcases that perpetuals are continuously opening long positions. The OI has increased by 171% to $43M. Based on the technical analysis, Akedo price has exceeded the previous swing high of $0.006631 which could be a bullish signal. Once the AKE price holds over this zone then the coin could remain bullish further. If the price holds below this level then buyers may lose the momentum.
Here, buyers might prefer to book profit which could lead to a short-term fall. If the profit booking increases then strong selling pressure can be seen.