ApeCoin and the Akita Inu: ApeCoin trying to gain support
- Since Saturday, the price of ApeCoin has been in a bearish consolidation
- This morning, the Akita Inu price fell to 0.0000000615, a new weekly low
ApeCoin chart analysis
Since Saturday, the price of ApeCoin has been in a bearish consolidation. On Tuesday, we had resistance at the 0.720 level and the EMA 200 moving average. After that, a strong bearish consolidation pushed the price below the EMA 200, strengthening the bearish momentum to a new low at 0.644. ApeCoin managed to stop here and recover to 0.665 level. We are still in the support zone, which could initiate a new bearish impulse to a new weekly low.
Potential lower targets are 0.630 and 0.620 levels. For a bullish option, the price of ApeCoin would have to retrace ziand 0.680 and the EMA 200 moving average. Then, it is necessary to stabilize it above. With the new support of the moving average, we expect a continuation of the bullish consolidation and post higher levels. Potential higher targets are 0.690 and 0.700 levels.
Akita Inu chart analysis
This morning, the Akita Inu price fell to 0.0000000615, a new weekly low. We quickly gained support at that level and started the recovery. We had one impulse to 0.0000000770, after which we went back to 0.0000000650 and stabilized there. The price tried as a new bullish consolidation to move above 0.0000000700, but it has resistance at that level. This has a negative effect on the Akita Inu and increases the pressure, which could lead to re-coupling.
Potential lower targets are 0.0000000600 and 0.0000000550 levels. We need a new bullish impulse up to the 0.0000000750 level for a bullish option. With this move, we jump over the EMA 50 moving average and hope for its support. Up there, it will be easier for us to continue recovery and erase at least part of yesterday’s losses. Potential higher targets are 0.0000000800 and 0.0000000850 levels.
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