ApeCoin Price Analysis: Breaking below 1,650 level Today
- In the previous hour, the price of ApeCoin fell to 1,626, forming a new weekly low there.
- On Thursday, we watched the Akita Inu price recover to the 0.0000001340 resistance zone.
ApeCoin chart analysis
In the previous hour, the price of ApeCoin fell to 1,626, forming a new weekly low there. Yesterday, we saw a recovery attempt that was stopped at the 1,740 level. We bounce twice from the same zone and start a new retreat again. After that, we see a drop below 1,650 and the EMA200 moving average. This further increases the pressure on the price, which led to the fall to this morning’s low.
Potential lower targets are 1,600 and 1,580 levels. If we manage to consolidate in this zone, the price would have an opportunity to initiate growth above the 1,680 level. This would bring us back above the EMA200, which should have a positive effect and support the price in recovery. Potential higher targets are 1,720 and 1,740 levels.
Akita Inu chart analysis
On Thursday, we watched the Akita Inu price recover to the 0.0000001340 resistance zone. We failed to break above and form a new two-day high. Since then, we have been in a mild bearish consolidation and pulled back to the 0.0000001300 level. Now here we are asking for support in order to form the bottom from which to start the recovery.
A return above the 0.0000001340 level would break the previous bearish formation. That would give us strength to continue towards EMA200 and 0.0000001360 levels. Potential higher targets if the bullish trend continues are 0.0000001380 and 0.0000001400 levels. Conversely, a price drop below the 0.0000001300 level pushes us to test the weekly support at the 0.0000001270 level. In that case, we cannot rule out the formation of a new weekly lower low.
