ApeCoin and Akita Inu: Akita has pulled to a yearly low
- On Monday we saw the ApeCoin price pull back to a new low at 0.477.
- At the start of this week, Akita Inu prices fell to a new annual low at the 0.0000001000 level.
ApeCoin chart analysis
On Monday we saw the ApeCoin price pull back to a new low at 0.477. After a short stay in that zone, a bullish consolidation was initiated, and by the end of the day, the price recovered to the 0.560 level. This morning, we saw support at 0.540, after which ApeCoin made a bullish impulse and rose to the 0.585 level. For now, we have minor resistance in that zone and are retreating to support at 0.560.
There is a good chance that ApeCoin will initiate further bullish consolidation and gain support from the EMA 50 moving average. Potential higher targets are 0.600 and 0.620 levels. For a bearish option, we need a negative consolidation and a price drop to the 0.540 level. There, we will test the daily open price. Failure to hold there will strengthen the bearish momentum to continue to the bearish side. Potential lower targets are 0.520 and 0.500 levels.
Akita Inu chart analysis
At the start of this week, Akita Inu prices fell to a new annual low at the 0.0000001000 level. After that, we spent the day stabilizing above that level. The price managed to initiate a bullish consolidation and move back up to the weekly open price of 0.0000001166. This morning, we saw a break above that line and formed a new weekly high at the 0.00000012045 level.
Akita Inu is now supported by the EMA 50 moving average, which increases optimism for continued recovery. Potential higher targets are the 0.0000001300 and 0.0000001400 levels. Additional resistance could be found in the EMA 200 moving average in the 0.0000001350 zone. For a bearish option, the price must pull back below the weekly open price and the EMA 50 moving average. Thus, it moves to the negative side and confirms the growth of bearish pressure on Akita Ina. Potential lower targets are the 0.0000001100 and 0.0000001000 levels.
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