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ApeCoin Price Prediction: Is APE Looking For $10 Threshold?

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ApeCoin Price Prediction
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  • ApeCoin was currently at $5.98 with an increase of 1.02% during the intraday trading session.
  • The 24-Hour Low of APE is $5.01 and the 24-Hour High of APE is $6.01.
  • The current price of Cosmos is above 20, 50, 100, and 200-days EMA.

ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3. The decentralized Bored Ape Yacht Club concept by Yuga Labs served as inspiration for ApeCoin. To be utilized in the developing APE Ecosystem, which is funded by the APE Foundation, ApeCoin was created. The Ecosystem Fund, which will support community-driven activities as decided by ApeCoin DAO members, received 62% of all ApeCoin.

The live ApeCoin price today is $5.24 USD with a 24-hour trading volume of $117,204,850 USD. ApeCoin is up 0.93% in the last 24 hours. As we can see ApeCoin is currently trading above 200-days EMA and we can also see a positive crossover of 20 Days EMA with 50, 100, and 200-Days EMA which indicates that market sentiment is positive towards ApeCoin which can lead to a continued rise of ApeCoin. It looks like 2023 is also good for ApeCoin like other cryptocurrencies as it can be seen that ApeCoin is constantly rising since the start of 2023 even though it has been declining for most of 2022. But this is also a make-and-break moment for APE because if sellers take over the market again then they can push back ApeCoin to its demand zone. This can put ApeCoin in critical condition. Investors should trade carefully.

The volume of the coin has decreased by 21.08% in the last 24 hours. The decreasing volume indicates that the sellers have increased which may consolidate APE at its major resistance. The coin’s price is heading above the 20, 50,100, and 200-Daily Moving averages.

What do Technical Indicators suggest about APE?

The technical indicators show that the RSI of the APE is showing a negative crossover in the overbought zone and it may enter into an underbought zone which indicates that sellers are coming in the majority and trying to acquire the market. The current RSI is around 61.54 which is below the average RSI of 67.66.

The MACD and MACD signals are intersecting but not giving a definitive crossover. Investors are eagerly waiting for any movement over the daily price chart.

Conclusion

ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3. The governance token for the APE Ecosystem is called ApeCoin. It enables token holders to take part in the ApeCoin DAO and provides its users with decentralized, open, and shared money. The live ApeCoin price today is $5.98 USD with a 24-hour trading volume of $117,204,850 USD. ApeCoin is up 0.93% in the last 24 hours. The APE’s RSI is exhibiting symptoms of negative crossover in the overbought zone and MACD has not given a definitive crossover, according to technical indicators.

Technical Levels

Resistance Levels: $5.50 and $6.40

Support Levels: $4.95 and $4.50

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading any stock or crypto assets comes with a risk of financial loss.   

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