The 15% rise of Apecoin (APE) is surprising, despite the market-wide correction. Dogecoin, which has been struggling with failures for a while, is busy retrieving this level as it broke the $0.1366 support to the downside. Could DOGE price drop to $0.12? At what levels are Apecoin sales concentrated? Let’s answer with technical analysis.
ApeCoin price entered a downtrend after reaching ATH level
ApeCoin reached its local peak in less than 24 hours and saw strong selling from higher highs. On the other hand, the Bored Ape Yacht Club NFT collectible base price has recently reached the ATH level of 124 ETH. ApeCoin distributed to NFT holders was collected in response to the increase in the base price. Analysts believe that the recent pullback can be considered a healthy correction before a rally in ApeCoin price.
Analyst Ali Martínez expects a drop to a support zone between $14.4 and $13.7. This correction could cause an increase in buy orders and lead APE price to $20. The analyst believes that a sustained close below the $13.40 level could invalidate the bullish thesis and result in more losses for the NFT token.
Dogecoin price not very attractive
Dogecoin price it’s heading into a very narrow range and is probably driving investors away from the notorious meme coin. Currently, DOGE price is trading at this week’s lower end and is expected to test $0.1337 set on Monday. It can be said to be trading in an descending triangle until proven otherwise. Sharing the chart below, analyst Tony Montpeirous says that Dogecoin price may fail resistance tests for a while:
DOGE price may continue to rise as the weeks progress, making lower highs (LH) and higher lows (HL). The volume profile doesn’t show much volatility in the market, so even small resistances can be quite challenging.
needs a close above $0.15 to invalidate the bearish thesis. If the price can rebound to the $0.15 pivot level, the bulls could conquer more of the $0.18 zone, resulting in a 30% increase from the current DOGE price.
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