Akash Network (AKT) is currently trading at $1.15, reflecting a notable 24-hour decline of 8.42%. The daily price range has been tight, with a high of $1.25 and a low of $1.13, indicating a market struggling for momentum amid this sell-off.

The trading volume over the past 24 hours stands at approximately 14 million, accounting for 4.42% of the market cap, which suggests moderate activity relative to the overall market. The moving averages indicate a bearish trend, particularly the 55 SMA and 144 SMA, both showing declines of 2.95% and 2.17% respectively, while the shorter-term averages are slightly bullish.

The RSI metrics reflect a lack of buying momentum, with the 1-hour RSI at 41 indicating a potential oversold condition, and the 7-day RSI at 47 suggesting the asset is approaching neutral territory. Over the past week, AKT has declined by 7.18%, and the 14-day and 30-day changes further highlight a longer-term bearish trend, with losses of 12.36% and 9.22%, respectively.

Given the significant price drop and bearish moving averages, AKT's current performance shows weakness in both short-term and medium-term indicators. The substantial distance from its all-time high of $8.07, achieved in April 2021, illustrates the considerable market correction and loss of investor confidence.

Considering the bearish technical indicators, lack of upward momentum, and the broader market conditions, a cautious approach is warranted. Therefore, the recommendation for Akash Network (AKT) is to hold at this time, as further declines could present a more favorable buying opportunity once indicators stabilize.