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- APE price is currently trading at $4.374 at press time.
- APE price observed a decline of 2.62% in the last 24 hours.
After making a sharp downturn in early November, the price made a sharp downturn of 48%. APE price is presently trading on a bullish trend, gaining more than 95 percent of its value in the uptrend. However, after taking resistance from $6.500 the price broke its bull trend with a strong bearish candlestick pattern. The price got buyers’ support from its next trendline at $3.500 and made a bullish engulfing candle. As of now, the price is making a consolidation pattern.
APE Price Trading Under the Supply Zone on the 1-day timeframe
Ape coin (APE) is used in the APE ecosystem as a utility token and it offers APE users governance rights. Ape coin holders can vote on how the APE DAO ecosystem fund should be used. 62% of Apecoin was allocated to the Ecosystem fund.
Technical Analysis (1 Day Time-frame )
APE price is taking resistance from the 200-day EMA and not long ago the 100-day EMA crossed above the 200-day EMA mid-march. The price took resistance from the 200-day EMA multiple times making a consolidation pattern. However, as the EMAs are making a golden crossover, the price could take a bullish turn. The RSI line is currently trading above the median line, taking consistent support from the 14 SMA. The RSI value at the time of writing is 51.47.
Technical levels –
Support -$3.500
Resistance – $4.569
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.
