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- ApeCoin was currently at $4.41 with an increase of 12.61% during the intraday trading session.
- The 24-hour low of APE was $3.88 and the 24-hour high of APE was $4.72.
- The current ApeCoin token price is below 20, 50, 100, and 200-Day EMA.
The pair of APE/BTC was trading at 0.0001871 BTC with a dip of 1.21% over the intraday trading session.
ApeCoin price prediction suggests that it is currently in an uptrend after testing its primary support of $3.342. The APE token entered its demand zone because of the heavy selling pressure near the end of the year. After the token touched its secondary resistance of $2.817 it bounced back-breaking its primary support of $3.342 and exiting its demand zone. This indicates that near the end of 2022 sellers were given stiff competition in the market which can be seen on the daily trading chart.
After the start of 2023, the APE token again started its upward movement which was possible because the buyers started giving support to the token before even starting the year. The APE token broke its primary resistance of $4.523 and even reached its secondary resistance of $6.018 as can be seen on the daily chart. The formation of the spinning top candlestick pattern over the daily trading chart at the bottom of a downtrend signals that bears are losing control and bulls are trying to take the reins.
The coin’s volume has increased by 148.6% in the last 24 hours. The increase in volume indicates that the number of buyers has increased. This shows that buyers are trying their best and there is a relationship between volume and the price of APE, which represents strength in the current bullish phase.
What does the ApeCoin Price Technical analysis say?
Technical Indicators show that the RSI has increased in the oversold zone and is shown a positive crossover which indicates that the buyers are coming in the majority and pushing APE upwards. This suggests the strength of the current bullish trend. The current value of RSI is 43.19 which is above the average RSI value of 38.26.
The MACD and the signal line are increasing but not showing any definitive crossover over the daily chart which can support the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
Summary
ApeCoin price prediction suggests that it is currently in an uptrend after getting testing from its primary support of $3.342.Near the end of the year 2022 sellers were given the hard competition in the market which can be seen on the daily trading chart. After the start of 2023, the APE token again started its upward movement which was possible because of the buyers. The increase in volume suggests a positive market sentiment toward the token.RSI and MACD have increased the oversold zone and is shown a positive crossover which shows strength in the current bullish phase, as per the technical indicators.
Technical Levels-
Resistance level- $4.523 and $6.018
Support level- $3.342 and $2.817
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 crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
