ApeCoin and the Akita Inu: Akita collapses under pressure
- Early this morning, we saw a strong bearish impulse of ApeCoin to the 0.739 level.
- The Akita Inu price dropped to 0.0000001565, forming a new weekly low there.
ApeCoin chart analysis
Early this morning, we saw a strong bearish impulse of ApeCoin to the 0.739 level. The support we had at 0.780 did not hold, and a break below followed. After the formation of a new low, the price stabilized and slightly recovered to the 0.760 level. For now, we encounter resistance there, and we need a stronger bullish impulse to break through that level. If we succeed, we can expect further growth to the bullish side.
Potential higher targets are 0.770 and 0.780 levels. EMA 200 moving average is up in the zone of 0.800 levels. For a bearish option, the ApeCoin price needs to go back down to the 0.740 level. This puts pressure on this morning’s low. With a new bearish impulse, we move to a lower low. Price will be forced to look for new lower support. Potential lower targets are 0.730 and 0.720 levels.
Akita Inu chart analysis
The Akita Inu price dropped to 0.0000001565, forming a new weekly low there. Yesterday’s strong bearish consolidation broke below the EMA 200 moving average and the 0.0000001700 level. After that, we saw bearish consolidation and a drop to this morning’s low. In the last couple of hours, the price managed to stay there and recover slightly to the 0.0000001590 level. This move would trigger a bullish consolidation and rise above the 0.0000001600 level.
Potential higher targets are the 0.0000001650 and 0.0000001700 levels. For a bearish option, the Akita Inu price would have to retest this morning’s low. This leads to an increase in bearish momentum and pressure on that level. The impulse below lowers the price to a new low and confirms the bearish scenario. Potential lower targets are the 0.0000001550 and 0.0000001500 levels.
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