ApeCoin and Akita Inu: ApeCoin tries to retain new support
- Over the weekend, we watched ApeCoin’s price pull back to a new weekly low at the 0.565 level
- On Saturday, the Akita Inu price dropped to a new weekly low of 0.00000005382
ApeCoin chart analysis
Over the weekend, we watched ApeCoin’s price pull back to a new weekly low at the 0.565 level. Only on Monday morning did the price stabilize and start a bullish consolidation. By the end of the day, we saw a rally above the 0.600 level, where we got support from the EMA 50 moving average. With its support, the price continued to rise to the 0.613 level to a new daily high.
After that, we took a short break and pulled back to support at 0.600. The support looks stable, and ApeCoin has an opportunity to start a new rally on the bullish side. Potential higher targets are 0.610 and 0.620 levels. We need a negative consolidation and pullback below the EMA 50 moving average for a bearish option. This is a sign to us that the price is losing strength and bullish momentum. After that, further pullback and testing of lower levels remain to be seen. Potential lower targets are 0.590 and 0.580 levels.
Akita Inu chart analysis
On Saturday, the Akita Inu price dropped to a new weekly low of 0.00000005382. We spent the Sunday in a bullish consolidation, but we returned to the support zone in the evening. After that, on Monday, the price successfully stabilized in that zone and initiated a bullish consolidation to the 0.00000006200 level. With this, we formed a new daily high and increased the chances of seeing a continuation on the bullish side.
This morning, we had resistance at the 0.00000005940 level, which led to a pullback to support at 0.00000005800. We will try to get back above the EMA 50 again to start a new bullish recovery. Potential higher targets are the 0.00000006200 and 0.00000006400 levels. The EMA 200 moving average is up in the 0.0000006750 zone.
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