On August 17, as the cryptocurrency marketplace witnessed a major drop, the rates of Internet Computer (ICP), SUI, and Apecoin (APE) all plunged to new record lows.
While ICP has nevertheless to near beneath its critical horizontal help, SUI and APE have penetrated this degree with out a bounce.
It’s a pity to see the rates of SUI and APE not remaining capable to recover immediately from this drop. Hopefully in the close to long term, these coins will discover stability and recover their worth. Let’s hope for a marketplace recovery and maintain faith in the probable of these coins.
Internet Computer (ICP) cost closes beneath $three.50
ICP cost has fallen beneath the downward resistance line considering the fact that hitting a yr large of $eight.23 on Feb. 18. This drop led to a minimal of $three.35 on June ten, and cost counterattacked at the help spot. horizontal help $three.50 (green icon).
However, ICP could not sustain the cost raise. Instead, it was rejected by the resistance line and dropped to a new minimal of $three.15 just 3 days later on.
Despite the downside, ICP cost has nevertheless to near beneath the $three.50 horizontal help spot. As extended as not performing that, the probable for a beneficial trend reversal stays.
If the decline continues, the ICP cost can drop yet another 25% and attain the subsequent help at $two.58. Since the cost is at its all-time minimal, it is needed to use the one.61 Fibonacci retracement to discover the nearest help.
On the other hand, in the occasion of a breakout, the cost can raise by thirty% and attain the subsequent resistance at $four.50.
SUI cost falls beneath help
The SUI cost has been falling beneath the downtrend line considering the fact that June 22. This line has brought on various rejections, most just lately on August 13. This triggered a continuation of the decline and led to the cost degree. the lowest ever is $.45.
The subsequent nearest help lies at $.41, down 15% from the recent cost.
However, if the SUI cost turns up, it can attain the downtrend line at $.fifty five, up 17% from the recent cost.
Can Apecoin (APE) Price Pop On Support?
The APE cost has been falling in a parallel descending channel considering the fact that June 17. These channels are deemed corrective patterns. Therefore, the chance of channel penetration would be the most probably situation.
However, APE cost broke the horizontal help at $one.80 on August 17 and reached a new record minimal of $one.34. This is a unfavorable indicator and voids the potential to penetrate the channel.
If the APE cost rises sharply at the help line of the channel, a twenty% rally to $one.80 can be anticipated. Conversely, if the cost breaks the channel, a drop to $one.eleven is attainable, which is a 26% reduction from the recent cost.
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