Dogecoin price is following the lead of Shiba Inu (SHIB) after bouncing from a stable support level. Apecoin (APE) is moving in dangerous waters as the price is up 20% this week.
ApeCoin price may deceive many investors
ApeCoin price has approached the ceiling zone of a symmetrical triangle formation after this week’s 20% rally from $0.10. The ApeCoin price uptrend shows no real weakness yet and it closed above the 38.2% Fibonacci level of Wave C to D at $12.31. ApeCoin price fluctuates just below the strong 50% Fib level at $12.66. The RSI has shown no signs of weakness for the uptrend and the volume profile is slightly bullish.
With all these factors in mind, investors should continue to watch APE price closely as there could be an uptrend towards $13.46 or even $14.30. But the first sell signal should be taken seriously. The safest override of the ApeCoin price uptrend will be confirmed at $10.66. If $10.66 is touched, analysts will try to lower the price of ApeCoin to $6.00, resulting in a 50% drop from the current APE price.
Dogecoin price follows Shiba Inu’s lead
Dogecoin price has been trading between the $0.11 and $0.17 region since March 24. After turning the $0.11 resistance into a support about three weeks ago, DOGE exploded 20% to retest the $0.17 ceiling. Looking forward, investors can expect the Dogecoin price to rise 17% and tag $0.17, according to analyst Akash Upadhyay. Removing this hurdle is the key to raising the leading meme coin to $0.20. In total, this increase will constitute a 35% gain.
This uptrend for Dogecoin price can be supported by IntoTheBlock’s Global In/Out of the Money (GIOM) pattern, indicating weak resistance. Therefore, DOGE price may face some issues in the next cluster stretching from $0.15 to $0.20. Here, about 335,000 addresses that have purchased 11 billion DOGE are “free”. Therefore, a move towards this range could result in a rebound from the selling pressure from underwater investors running head-to-head.
On the other hand, a daily candlestick near $0.133 will turn the barrier into a resistance level, invalidating the bullish thesis for Dogecoin price. In this case, DOGE could trigger a 10% collapse to retest the $0.11 support level.
Shiba Inu price establishes a foundation before the next increase
As quoted by Kriptokoin.com, it has increased by 36% after the Shiba Inu Robinhood listing, but settled at 22% at the close of the daily candle. . So far, the Shiba Inu price is up 22% and is close to hitting the ceiling at $0.0000329. A daily candlestick close above this resistance will signal a breakout and start a move towards the target at $0.0000454. However, there is a possibility that this uptrend could extend to $0.0000500 as it is a round number. In this case, the increase would constitute a 87% rise from the current position at $0.0000266 and a 126% rise from the pre-Robinhood listing price of $0.0000221 on April 11.
While things are looking for Shiba Inu price, a daily candlestick near $0.0000211 will produce a lower low, invalidating the bullish thesis for SHIB. In such a case, SHIB could slide lower to discover a stable support level at $0.0000204.
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