ApeCoin and Dogecoin had the opportunity to rally during the week when Bitcoin showed strength. However, they are still below levels to suggest that the bulls are back spiritually. 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 silent in recent days due to the slowdown in transaction volume.
On the daily timeframe, the price of APE continues to look strong as it could adjust form the long-term price action to $7. The bulls’ recapture of the key $5.5 reinforcement will be a favorable sign for the APE price. Analyst Jameso Bande expects an accurate break 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 period. It could be ready for a major breakout if prices close above $5.5 after rejecting a higher trend.
Bitcoin price continues to show strength above $21,000
BTC price is trading quickly above the 50 EMA at $21,300. Process volume was quite high on the weekly chart. The price quickly bounced back to the $21,000 region as it traded in a narrow range. On the daily timeframe, the price continues to move towards $22,500 after the bulls continue to climb higher on the chart. However, a close above $21,500 is needed for a baht to rise to the $22,300 zone. If BTC fails to close above $21,500, we can see that the mid-$20,500 to $21,500 zone is being tested again in the coming days, according to the analyst.
Dogecoin gains downward momentum as Twitter news fades away
Dogecoin fell 11% following news of Twitter’s plans to halt crypto integration projects. However, it continues to hold the 8th place on the basis of market price. 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. That was why it had lost 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 a significant selling pressure that will cause a 12% drop to test the 0.11 region. In this middle, the RSI data has settled into the very buy zone. However, since the price is 72.4%, the general sentiment points to a bullish move.
Analysis of other indicators shows that a successful break of the 0.136 zone would invalidate the previous argument for a potential bearish and allow it to reach $0.152 instead. But DOGE’s future will most likely depend on news from Twitter. Koindeks.comWe have discussed Elon Musk’s latest breakthroughs in this article.