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ApeCoin and Akita Inu: ApeCoin slipped below the EMA 200

October 17, 2024

ApeCoin and Akita Inu: ApeCoin slipped below the EMA 200

  • The price of ApeCoin continued its bearish consolidation on Thursday
  • Yesterday’s bullish attempt of the Akita Inu price was stopped at the 0.00000011900 level

ApeCoin chart analysis

The price of ApeCoin continued its bearish consolidation on Thursday. On Wednesday, the price fell below the weekly open level, which indicated a potential further pullback. This morning, we had a consolidation in the 0.710-7.20 range, then a break below, and the formation of the weekly low at the 0.704 level. Such a picture will only strengthen the bearish momentum to continue below the 0.700 level.

Potential lower targets are 0.690 and 0.680 levels. For a bullish option, ApeCoin must initiate a bullish consolidation above the 0.725 weekly open level. That brings us back to the upside to resistance in the EMA 200 moving average in the 0.730 zone. We expect a break above to continue to the bullish side. With the new support, we will be more relieved for further recovery. Potential higher targets are 0.740 and 0.750 levels.

 

Akita Inu chart analysis

Yesterday’s bullish attempt of the Akita Inu price was stopped at the 0.00000011900 level. We failed to climb up and test the weekly high. The price quickly lost its previous momentum up there and started to pull back to the 0.00000010500 level. We now have additional pressure in the EMA 50 moving average, which is now on the bearish side. The Akita Inu is under pressure to continue further retreating to new support.

Potential lower targets are 0.00000010000 and 0.00000009500 levels. Great support for the price in the weekly open zone was in the EMA 200 moving average. For a bullish option, the price must return above the EMA 50 and the 0.00000011000 level. After that, we have a new position to start a bullish consolidation. We expect a return above the daily open level and a strengthening of the bullish momentum. Potential higher targets are 0.00000011500 and 0.00000012000 levels.

 

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