ApeCoin and Dogecoin had the opportunity to rally during the week when Bitcoin showed strength. However, they are still below levels that would psychologically suggest that the bulls are back. Analyst Jameso Bande maps out how prices may exceed these critical thresholds in the new week.
Is Apecoin under the control of the bulls?
Apecoin has stayed away from the bullishness of the past few weeks. Its price is still struggling to hold the $5 zone. Since last week, the altcoin market has experienced some relief thanks to the strength that Bitcoin has shown. However, Apecoin has been quiet in recent days due to slowing trading volume.
APE’s price continues to look strong as it could adjust from the long-term price action to $7 on the daily timeframe. The bulls’ recapture of the key $5.5 support will be a good sign for APE price. Analyst Jameso Bande expects a breakout to $7 after this zone.
Looking at the technical indicators, APE price is trading above the 50 EMA ($5). This indicates relaxation in the daily time frame. It could be ready for a major breakout if prices close above $5.5 after being rejected against a higher trend.
Bitcoin price continues to show strength above $21,000
BTC price is trading just above the 50 EMA at $21,300. The trading volume on the weekly chart was quite high. It quickly bounced back to the $21,000 region as the price traded in a narrow range. On the daily time frame, the price continues to move towards $22,500 after the bulls continue to push higher on the chart. However, it must close above $21,500 for a chance to rally to the $22,300 zone. If BTC fails to close above $21,500, we could see a retest of the regions between $20,500 and $21,500 in the coming days.
Dogecoin gains downward momentum as Twitter news moves away
Dogecoin fell 11% following news of Twitter’s plans to halt crypto integration projects. However, it continues to hold the 8th place in terms of market value. On the technical side, the daily chart shows $0.15 as a strong resistance zone. This is because the altcoin’s bullish action is running out of steam. Thus causing it to lose 11% of its value in the last three days.
Along with the above, DOGE price is doing its best to sustain the critical Fibonacci retracement level of $0.12. Dogecoin could be hit by some serious selling pressure that will cause a 12% drop to test the 0.11 zone. Meanwhile, RSI data has settled into overbought territory. However, overall sentiment points to a bullish move as the value stands at 72.4%.
Analysis of other indicators shows that a successful break of the 0.136 zone will invalidate the previous argument for a potential bearish and allow it to reach $0.152 instead. But DOGE’s future will likely depend on news from Twitter. cryptocoin.com We have discussed Elon Musk’s latest moves in this article.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.