ApeCoin and Akita Inu: ApeCoin drops to a new low on Monday
- We saw the new September high price of ApeCoin on Saturday at the 0.874 level
- The price of Akita Inu rose to 0.00000009845 on Friday, hitting a new high
ApeCoin chart analysis
We saw the new September high price of ApeCoin on Saturday at the 0.874 level. We stayed up there for a short time because a bearish consolidation was quickly initiated and a drop to the 0.800 level. Then, on Saturday, we saw the first recovery to 0.840, where ApeCoin encountered new resistance and formed a lower high. On Sunday, the price once again tried to break through the resistance zone, but to no avail.
Strengthening bearish momentum pushed the price of ApeCoin to a new low of 0.776 on Monday. We are currently holding in that zone and could see a slight recovery tonight. Potential higher targets are 0.790 and 0.800 levels. For a bearish option, we need a negative price consolidation below the 0.770 level. With that step, we will move to a new weekly low and thus confirm the continuation to the bearish side. Potential lower targets are 0.760 and 0.750 levels.
Akita Inu chart analysis
The price of Akita Inu rose to 0.00000009845 on Friday, hitting a new high. Later in the day, we saw the initiation of a bearish consolidation down to the 0.00000008500 support zone. Over the weekend, the price was in a sideways consolidation with the support of the EMA 200 moving average. Monday brought new volatility and a drop below the moving average and the 0.0000008200 level. We didn’t manage to stop there either; the Akita Inu price fell to 0.00000007800, a new weekly low.
After that, the price slowed down and was maintained in the support zone. With the new impulse, we will see the formation of a new weekly low and confirmation of bearish pressure on the price. Potential lower targets are the 0.00000007600 and 0.00000007400 levels. For a bullish option, the Akita Inu price must return above the 200 EMA and 0.00000008400 level. With that step, we will have a new opportunity to connect to the bullish side. Potential higher targets are the 0.00000008600 and 0.00000008800 levels.
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