ApeCoin and Akita Inu: ApeCoin under pressure around 1,600

• The price of ApeCoin fell to a new weekly low yesterday at the 1,583 level. 
• Akita Inu’s price was in bearish consolidation yesterday to the 0.0000002389 level.

ApeCoin chart analysis

The price of ApeCoin fell to a new weekly low yesterday at the 1,583 level. This is where the previous bearish consolidation stopped, after which we see a recovery. Today, we continue our recovery and climb up to 1,680 levels. Here we encounter the EMA50 moving average and expect to move above it and continue on the bullish side. Potential higher targets are 1,700 and 1,720 levels.

Additional resistance in the zone around 1,720 levels is the EMA200 moving average and the weekly open price. We need negative consolidation and pullbacks below the 1,640 level for a bearish option.

With this, we break through the previous bullish formation and strengthen the bearish momentum. We are turning towards yesterday’s support zone; potential lower targets are 1,620 and 1,600.

Akita Inu chart analysis

Akita Inu’s price was in bearish consolidation yesterday to the 0.0000002389 level. We managed to get back above the 0.0000002450 level and stabilize there. After that, the price starts a bullish consolidation from there and rises above the 0.0000002550 level. Here, we now encounter the EMA50 moving average and need to move above it to continue on the bullish side.

Potential higher targets are the 0.0000002600 and 0.0000002650 levels. We could have additional resistance in the EMA200 around the 0.0000002620 level. We need a positive consolidation and pullback to the 0.0000002450 support level for a bearish option.

Thus, we fall to a new daily low and confirm the beginning of a bearish momentum. Potential lower targets are the 0.0000002400 and 0.0000002350 levels.