ApeCoin and Akita Inu: Akita Inu records a new weekly low
- This morning, the price of ApeCoin rose to a new weekly high at the 0.860 level
- Yesterday’s bearish consolidation of the Akita Inu price had the effect of falling to 0.00000007400, a new weekly low
ApeCoin chart analysis
This morning, the price of ApeCoin rose to a new weekly high at the 0.860 level. We stopped above there, and the price started to pull back to the 0.850 level. The pressure is now on this level, and a drop below could only strengthen the bearish momentum. So, we expect a new test of the daily open level of 0.830. There, we also have the EMA 50 moving average, which could stop further pullback.
Potential lower targets are 0.820 and 0.810 levels. For a bullish option, the price of ApeCoin must first stabilize above the 0.850 level. After that, since we form a new bottom, we can hope for bullish consolidation to continue above the previous high. Potential higher targets are 0.870 and 0.880 levels.
Akita Inu chart analysis
Yesterday’s bearish consolidation of the Akita Inu price had the effect of falling to 0.00000007400, a new weekly low. After its formation, the price managed to stabilize and start a recovery to the 0.00000007980 level. Here we are close to testing the weekly open price and hoping for a return above to the positive side. Akita Inu has additional pressure in the EMA 200 moving average, which is in the zone of the weekly open level.
A new strong bullish impulse above would increase the chances of a return to the bullish side. Potential higher targets are the 0.00000008200 and 0.00000008400 levels. For a bearish option, the price would have to hold below the weekly open price to the negative side. This step strengthens the bearish momentum and will lead to a new pullback in the Akita Inu price. Potential lower targets are the 0.00000007600 and 0.00000007400 levels.
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