ApeCoin and Akita Inu: ApeCoin stopped at the 0.999 level
The price of ApeCoin has been in retreat since the beginning of this week from the 0.999 level. Last week, the price of Akita Inu was under a lot of pressure, and this caused it to fall to 0.0000001667.ApeCoin chart analysis
The price of ApeCoin has been in retreat since the beginning of this week from the 0.999 level. From there, a bearish consolidation was initiated that is still active today. This morning, we formed a new weekly low at the 0.895 level. For now, we have support at that level and are recovering to the 0.930 level. If this consolidation continues, the price could climb up to the EMA200 moving average at 0.960.
This is where the challenge awaits us, as we need a bullish impulse to break through this resistance zone. Potential higher targets are 0.980 and 1.000 levels. We need a negative consolidation and a new pullback to the 0.900 level for a bearish option. With the new pressure in that zone, the price of ApeCoin was under pressure to slide below to a lower low. Potential lower targets are 0.880 and 0.860 levels.
Akita Inu chart analysis
Last week, the price of Akita Inu was under a lot of pressure, and this caused it to fall to 0.0000001667. Since then, the price has been moving in a sideways consolidation in the 0.0000001680-0.00000018400 range. In the zone of the upper line of this range, additional pressure is in the EMA200 moving average. That’s causing us a problem this week as we just can’t manage to move up. Akita Inu is forced to retreat and initiate bearish consolidation.
It is now at 0.0000001764 at the weekly low. There is a good chance that we will see a further pullback and visit last week’s support zone. Potential lower targets are the 0.0000001740 and 0.0000001720 levels. We need a return up to the EMA200 moving average for a bullish option. Then, we need to hold ourselves up there. If the Akita Inu manages to stabilize there, it will have the opportunity to start a further recovery on the bullish side.
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