ApeCoin at 1,240: Potential Bullish Signal
The price of ApeCoin dropped to the 1,205 level this morning, forming a new weekly low there.
We saw a strong bullish impulse of Akita Inu this morning from 0.0000001990 to 0.0000002388 level.
ApeCoin chart analysis
The price of ApeCoin dropped to the 1,205 level this morning, forming a new weekly low there. That fall was preceded by yesterday’s bearish consolidation with 1,360 levels.
In that zone, ApeCoin failed to break above, which led to the initiation of a bearish consolidation and a drop to a new low. Additional pressure is reinforced by the fact that we have fallen below the EMA200 moving average.
ApeCoin’s price has managed to gain support and initiate a recovery, reaching the 1,240 level. This is a significant development as it could potentially lead to a bullish side. To sustain this recovery, we need to hold above this level. If successful, we could see a further recovery to the bullish side, with potential higher targets at 1,260 and 1,280 levels.
However, a new drop below the 1,220 level could indicate a bearish option, putting pressure on this morning’s low and potentially leading to a new descent. In this scenario, potential lower targets are 1,200 and 1,190 levels.
Akita Inu chart analysis
We saw a strong bullish impulse of Akita Inu this morning from 0.0000001990 to 0.0000002388 level. The joy was short-lived as the price quickly retreated from that level back to the 0.0000002050 level.
We are back in the testing zone of the EMA200 moving average and again looking for its support for a new bullish attempt. Potential higher targets are the 0.0000002100 and 0.0000002150 levels.
We need a break below the EMA200 down to the 0.0000002000 support level for a bearish option. Going down confirms the bearish pressure that aims to push the Akita Inu price even lower.
Potential lower targets are the 0.0000001950 and 0.0000001900 levels. In this way, we return to the previous weekend’s support zone.
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