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- 1 The recovery of the token is demonstrated by ApeCoin price prediction as the price of BTC surges.
- 2 The 20-EMA and the 50, 100, and 200-days Daily Moving Averages are the targets for APE’s recovery as it tries to achieve the 20-EMA.
- 3 With an intraday decrease of 0.29%, the price of APE/BTC was 0.0004241 BTC.
Following Bitcoin’s spectacular rise above $29,000, ApeCoin’s price prediction indicates that the cryptocurrency is entering a period of recovery. As long as Bitcoin holds at the $30600 resistance level, APE cryptocurrency may recover towards the $3 recovery level. To get to the $3 recovery level, APE needs to break free of the primary resistance level of $2.37.
From the demand zone around $1.95, ApeCoin price has begun its recovery phase and is currently in the lead to recover and hit the $3 resistance level. Before making any investment decisions, APE cryptocurrency investors ought to practise patience and wait for the price of APE to move past the primary resistance level.
In the course of the day’s trading session, ApeCoin’s market capitalization increased by 4.51%, bringing its price to $2.26. The intraday trading session saw a 2.79% rise in trade volume. This proves that buyers are engaging in the trade to drive APE up to the higher level. Market capitalization to volume was 12.31%.
What do Technical Indicators Suggest About ApeCoin’s Price?
The ApeCoin price forecast indicates that APE cryptocurrency is showing signs of revival on the charts. The APE cryptocurrency is working to maintain its price above the 20-EMA and recover above the 50, 100, and 200-day Daily Moving Averages in the meantime. Trading volume, which is still below average, must increase if APE is to keep rising.
Over the past week and six months, APE cryptocurrency has regained about 3.99% and 3.55%, respectively. APE’s cryptocurrency price has increased 12.58 percent so far this year. Consequently, its recovery in 2023 is confirmed.
Technical indicators show the daily time frame chart’s increasing pace of APE. The relative strength index (RSI) shows the APE cryptocurrency’s increasing trend. RSI was at 40 and is moving in the direction of neutrality.
APE’s increasing trend is visible in the moving average convergence/divergence (MACD) indicator. After a positive crossover, the MACD line is higher than the signal line. Before making any investment decisions, APE cryptocurrency investors should practise patience and wait for the price of APE to move past the main resistance level.
Summary
The cryptocurrency is in its recovery stage, according to ApeCoin price predictions. From the demand zone around $1.95, ApeCoin price has begun its recovery phase and is currently in the lead to recover and hit $3 resistance. Trading volume, which is still below average, must increase if APE is to keep rising. Technical indications show that APE cryptocurrency is moving upward throughout the daily time-frame chart.
Technical Levels
Resistance Levels: $3.00 and $3.4
Support Levels:$2.37 and $1.95
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 or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
