Seems Like The Tables Have Turned

Please fol­low and like us:
Pin Share

Our Apecoin price pre­dic­tion depends on the price action with­in the next few days. Cryp­tocur­ren­cy Apecoin has failed to reclaim the $7.5 after mul­ti­ple attempts. Con­se­quent­ly, the bears are gain­ing momen­tum once again. The price has bro­ken the uptrend on the dai­ly time­frame and now trad­ing at the low­est lev­el in 4 weeks.

At the time of writ­ing, the APE coin price is trad­ing at $5.33. The price dropped by 7.6% dur­ing Friday’s trad­ing ses­sion as BTC took a nose­dive. Cryp­to mar­kets tum­bled dur­ing the Asian hours as the swing traders booked their prof­its. While the charts indi­cate a change in mar­ket struc­ture, many ana­lysts still con­sid­er it a good buy­ing opportunity.

Alt­coins enjoyed a decent relief ral­ly with­in the past few weeks. Apecoin price surged from its June low of $3.26 to $7.80 dur­ing this ral­ly. How­ev­er, the $7.5 proved to be a piv­ot once again, and the bulls lost momen­tum. You may buy Apecoin by sign­ing up on the top cryp­to exchange Binance.

Accord­ing to Apecoin news, the num­ber of APE hold­ers has hit a new all-time high. Cur­rent­ly, there are 88,502 hold­ers of the native asset of Oth­er­side Meta­verse on the Ethereum blockchain.

Apecoin Price Prediction

Tech­ni­cal analy­sis of APE USD price chart shows a break of trend on the dai­ly time­frame. The break­out tar­get of the sym­met­ri­cal wedge already seems to be achieved at $7.5, so the bulls are book­ing their prof­its. Nev­er­the­less, a low­er high couldn’t be ruled out before a retest of the $4 support.

The only way Apecoin price pre­dic­tion could remain bull­ish is by reclaim­ing the $7.5 price lev­el. Anoth­er fac­tor affect­ing the price action is the Bit­coin prices. If BTC price stays in a down­trend, APE is also like­ly to depict a neg­a­tive price action. On the oth­er hand, alt­coin prices would surge once again if BTC price breaks above $25k. There­fore, in the cur­rent mar­ket con­di­tions, it is bet­ter to wait for a break­out than to try to catch the falling knife.

Apecoin Daily Chart

Technical analysis of Apecoin price chart (1D).
Apecoin Price Chart (1D)



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *