According to crypto analyst Jonathan Morgan, ApeCoin price action remains highly volatile, warning of a potential drop from its recent highs. Analyst Akash Girimath says that the price of Dogecoin has gained 15% in less than 48 hours, signaling the start of this bull trend. Analyst Filip L expects the bullish trend to continue into the weekend as headwinds start adding more positive elements for Decentraland.
“ApeCoin price will offer the opportunity to buy at $ 12”
ApeCoin price continues to slide steadily south after hitting the much anticipated $14.50 value area. The engagement so far has been weak, with buyers attempting to form a support zone around $13.50, suggesting that the possibility of a deeper pullback is becoming more and more likely.
ApeCoin is one of the newest and most volatile in the cryptocurrency space. However, no matter how new the APE is, technical analysis can still be used. From the perspective of price action and Ichimoku, ApeCoin price looks set for a deeper pullback. Maybe the deepest thing he’s ever experienced. The 50% logarithmic Fibonacci retracement is located at $11.86, while the second largest high-volume node is located at $12.00.
If ApeCoin completes an hourly close at or below $12.35, this places APE in a wide open area to push below Kijun-Sen and towards the $12 value area. However, bears may not want to be overly confident about a sharp pullback. If ApeCoin price bounces back above Tenkan-Sen, which is currently $13.77, it will trigger a bullish re-entry option in the Ichimoku Kinko Hyo system. ApeCoin will likely hit and exceed the $15 value area in this scenario.
Traders on both sides of the market should be aware of the extraordinary volatility of new crypto listings, especially those in a new and still developing classification focused on NFTs.
“Dogecoin price starts bull trend”
Dogecoin price action is a reflection of a bullish rebound and signals the possibility of a bull trend resumption. A higher low is needed for the bulls to take full control and push DOGE higher.
From February 8, Dogecoin entered a mini downtrend, which fell around 30% before forming a bottom around $0.109. High swings of this correction can be tied using trendlines. On March 18, DOGE broke the trendline, marking the end of this mini downtrend and the start of an uptrend. Although Dogecoin price stumbled along the way, it’s up 20% since the exit and is currently grappling with the $0.134 blockchain. Interested traders can enter a long position after it is successfully translated to the $0.134 support level.
While the bullish trend so far has been nothing short of impressive, this move could be vital to trigger a bullish trend if DOGE produces a higher top above $0.163. This key resistance barrier has supported Dogecoin price action to collapse for about nine months. Therefore, turning this hurdle into a support base would be a major trend change in favor of the bulls. Interested traders can wait for the uptrend to be confirmed after DOGE produces a higher bottom.
“Decentraland uptrend still intact”
Decentraland (MANA) price continues its winning streak after booking wins for the fourth consecutive day. This morning, the bulls attempted to break the 55-day Simple Moving Average (SMA) at $2.70 but failed after receiving an outright rejection. While a drop is quite normal after such a rejection, the rally is likely to still be considered lively, assuming the bulls are able to make gains. With the Nasdaq leading the rise, more bulls will want to join in on the price action as the tailwinds continue.
With the bulls back to prominence, Decentraland price is on the verge of turning a four-day rally into an uptrend. Unfortunately, the current top was cut short at $2.70 against the 55-day SMA. With the Relative Strength Index still well below the ‘overbought’ level, the bulls have plenty of room in the tank to pierce the 55-day SMA and could be set at $2.90 or $3.00 over the weekend.
Meanwhile, MANA price is also seeing support formation from below, adding to tailwinds as the upward momentum increases. Turning this rally into an uptrend will depend on the Nasdaq as the correlation between cryptocurrencies and the Nasdaq has shifted back into gear over the past few days. MANA price will likely follow a similar pattern as investors regain their confidence in global equities, so once the Nasdaq takes the lead, the MANA price will likely see the next headwind come from the correlation with the Nasdaq, providing a second impetus for the price action, and the price is $3.00. up to $.
After the MANA price is rejected by the 55-day SMA, the risk is that the price will drop to $2.46 with the 200-day SMA as support, or $2.40, which is on the green ascending trendline. If the bearish pressure gains more weight on this green ascending trendline, the risk on hand could be that the bears pull back to $2.22, the March low.