Akropolis (AKRO) has seen a 70% price increase today after being bearish for 3 months. The main driver of the price surge is the announcement by KCEX, a crypto exchange. This spike is likely to make the price start a longer bullish trajectory with a potential 100% spike.
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KCEX Futures Listing Generates Excitement
On June 28, 2024, at 10:00 UTC, KCEX Futures launched AKRO USDT-M perpetual futures contracts. This new offering provides traders with adjustable leverage options ranging from 5x to 50x, potentially attracting more investors to the AKRO market.
KCEX shared the news on their official X account, @KCEX_Official, and it got a lot of attention from the crypto community. The exchange also provided a direct link to their futures trading platform, making it easy for interested parties to access the new AKRO trading pairs.
Technical Analysis: Ending the Downward Trend
Before this announcement, AKRO’s price had been going down since early April. The cryptocurrency had been following a downward trendline. But the news has caused a big price increase, pushing AKRO above this resistance trend line.
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Show more +This breakout is important because it could mean the downward trend is ending. If AKRO can stay above the previous resistance level, it could lead to a big increase in price.
People are now closely watching AKRO’s price, as the current momentum could result in a large increase. If the price closes above the resistance level, it could rise by as much as 100%.
KCEX’s listing announcement has definitely given new energy to the AKRO market.
Read Also: Bitcoin Price Action Paints a Bearish Outlook for BTC Next Month: The Two Possible Scenarios
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