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- A key demand area in between pump and dump supported the price of Apecoin.
- The all-important moving average remains above the current price of APE Crypto on the daily time frame.
- In the past week, buyers lost 14.3% due to heavy selling in crypto.
Buyers are expecting the price of Apecoin to bounce up to the $5.0 mark. But things are not favorable for the buyers as the crypto price market is dominating the sellers since the beginning of August. Afterwards, the price action continues to draw either a daily up or a down high-low trend in each time frame. Sellers follow sales on the rise but it seems that buyers can successfully free themselves from the clutches of sellers.
In October, Apecoin price retested its key demand zone of $4.15 twice. Today buyers again try to cover their losses from this pumping zone side. Notably, the bears have failed to break above this level more than four times in the past few weeks. Thus any price falling below this key area can raise the fantasy of sellers.
Apecoin price is not far above from this demand zone. Meanwhile, Apecoin price along with the USDT pair is trading at $4.3 mark at the time of writing. Although buyers try to reverse negative trend in intraday trading session, resulting in, crypto is green by 1.08% today. Moreover, the Pair price of Bitcoin along with Ape Coin is down 1.13% at 0.0002248 satoshis.
Over the daily price chart, all significant moving averages are reaming above the current price of APE crypto. Hence, the market cap of Ape Coin fell 1.64% in the last 24 hours, reported at $1.32 billion as per CMC.
The Stoch RSI indicator is still weakly observing the oversold zone over the daily price scale. In addition, the Money Flow index (MFI) remains to dip in the extreme oversold zone, at the time, it stays at 22.5 mark.
Conclusion
The Ape Coin Price is maintaining the $4.1-demand zone despite continued selling. From Stoch RSI and MFI indicator’s side there is not a strong bullish indication for rebound until buyers get back the $5.0 resistance level in this month.
Support level – $4.1 and $3.0
Resistance level – $5.0 and $10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
