ApeCoin and Akita Inu: ApeCoin is bullish since Friday
- On Friday, ApeCoin retreated to a new low at the 0.547 level
- On Monday, Akita Inu’s price pulled back to support at 0.0000001123
ApeCoin chart analysis
On Friday, ApeCoin retreated to a new low at the 0.547 level. During the weekend, the price managed to stabilize and initiate a recovery to the 0.613 level. After the formation of this high, we saw a pullback to support at 0.580. On Monday, the price gets more concrete support there and initiates a bullish consolidation above the EMA 200 moving average. This strengthened the bullish trend and strengthened ApeCoin’s position.
Potential higher targets are 0.610 and 0.620 levels. For a bearish option, we need a negative consolidation of the ApeCoin price and a pullback below the EMA 200 moving average. Going below, we enter the zone between the weekly open price and the moving average. We can expect pressure on the price to start with a pullback below the weekly open price. This will form a new weekly low and confirm that the price is in trouble. Potential lower targets are 0.580 and 0.570 levels.
Akita Inu chart analysis
On Monday, Akita Inu’s price pulled back to support at 0.0000001123. We quickly consolidated there and moved back above the weekly open price of 0.0000001150. There, the price finds new support and begins a further recovery this morning to a new weekly high at 0.0000001220. With that, we rose again above the EMA 200 after five days. For now, we have resistance in that zone and are trying to minimize a potential pullback.
The price managed to hold above 0.0000001180 and again attacked the 200 EMA and 0.0000001200 levels. For a bullish option, we need a new bullish impulse above 0.0000001220. Thus, we move to a new high and confirm the bullish trend. Potential higher targets are 0.0000001240 and 0.0000001260 levels. Last week’s high is high at the 0.0000001360 level.
The post ApeCoin and Akita Inu: ApeCoin is bullish since Friday appeared first on FinanceBrokerage.