ApeCoin and Akita Inu: ApeCoin remains under pressure

• This morning, the price of ApeCoin stabilized above the 0.50 level. 
• The price of Akita Inu is moving in the 0.0000001140-0.0000001230 range for the second day. 

ApeCoin chart analysis

This morning, the price of ApeCoin stabilized above the 0.50 level. After that, we saw the initiation of a bullish consolidation up to the 0.590 level. We are encountering resistance for now, but we have support from the EMA50 moving average. If the support holds, the price could start a bullish consolidation and continue above the 0.600 level. Potential higher targets are the 0.620 and 0.640 levels.

We will have a new resistance in the EMA 200 moving average at the 0.630 level. For a bearish option, the ApeCoin price would have to pull back to this morning’s support at 0.550. A new visit to that zone could have a negative impact and strengthen the bearish momentum. With the new daily low, we get confirmation of bearish pressure. After that, the only thing left is to continue the retreat. Potential lower targets are 0.540 and 0.520 levels.

Akita Inu chart analysis

The price of Akita Inu is moving in the 0.0000001140-0.0000001230 range for the second day. This morning, we saw another visit to the lower support level, after which a bullish consolidation to the 0.0000001215 level was initiated. Here, we stop for now and pull back to the 0.0000001185 level. In this zone, the price is testing the EMA 50 moving average and needs its support to stay above the weekly open price.

If Akita Inu manages to do that, we could expect a break above 0.0000001230 and a jump to a new weekly high. Potential higher targets are 0.0000001250 and 0.0000001300 levels. For a bearish option, a price pullback to this morning’s low is required. With increased bearish momentum, we will easily see a break below to a new daily low. Potential lower targets are 0.0000001100 and 0.0000001050 levels.