ApeCoin and Akita Inu: Akita Inu has moved down to support
The price of ApeCoin is in retreat from Monday and the formation of the weekly high at 0.872. Over the weekend, we saw the Akita Inu price jump to 0.0000001980, forming a new July high.ApeCoin chart analysis
The price of ApeCoin is in retreat from Monday and the formation of the weekly high at 0.872. From there, we saw the initiation of a bearish consolidation and a pullback this morning below the EMA 200 moving average. Cena is now under even more pressure to pull back further. After forming a daily high this morning at the 0.830 level, ApeCoin initiated a pullback to the 0.795 level, creating a new weekly low there.
A move below the EMA 200 could continue the bearish momentum and cause the price to slide to a new lower low. Potential lower targets are 0.790 and 0.780 levels. For a bullish option, we need a positive consolidation and retracement above 0.820 and the EMA 200. This would indicate that ApeCoin is gathering new strength to continue on the bullish side. Potential higher targets are 0.830 and 0.840 levels.
Akita Inu chart analysis
Over the weekend, we saw the Akita Inu price jump to 0.0000001980, forming a new July high. After that, a bearish consolidation started, and the price fell below the 0.0000001900 level. We didn’t manage to stop there, but we saw a continuation this morning all the way to the 0.0000001725 level. Here now, the price is trying to get the EMA 200 moving average support and hold above.
Bearish momentum is still present on the chart, which could result in an impulse below to a new weekly low. Potential lower targets are 0.0000001700 and 0.0000001650. For a bullish option, we need a positive consolidation and support of the EMA 200 moving average. If we get that, we will be able to see the recovery start on the bullish side. Potential higher targets are the 0.0000001800 and 0.0000001850 levels.
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