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- 1 Apecoin price prediction (COINBASE: APE) shows price took a rebound from support levels.
- 2 The coin price increased by 0.44% over the last 24 hours and by 7.94% over the past week.
- 3 At press time, Apecoin is trading at $2.056, and the 52-week price range is $1.80 – $6.41.
ApeCoin is an ERC-20 token that enables the APE ecosystem, a web3 platform for decentralized community building. ApeCoin holders can participate in the ecosystem’s governance, use it as a common currency, access special benefits, and encourage third-party developers to build services, games, and projects with APE.
The maximum M.C. of Apecoin (COINBASE: APE) is $2,023,965,842, assuming all 1 Billion APE tokens are in circulation today. This is a statistical representation of the fully diluted valuation (FDV) of ApeCoin crypto, as reported by Coingecko, a crypto data and info website. The emission schedule of APE tokens may affect how long it takes for FDV to be achieved.
Apecoin crypto plummeted 3.35% in market value and surged 42.43% in trading volume in the last 24 hours, per Coinmarketcap which is a crypto data and info website. Its market value is $761,045,989 and its trading volume is $210,503,282. There are 368,593,750 APE in circulation.
ApeCoin (APE) open interest is $80.05 Million, as per Coinglass, which is a crypto analysis website, it fell by 16.67% in the previous session. The long versus short ratio for 24 hours is 0.9342. The total number of short positions added in the last 24 hours is $608,547.965 against longs of $1,347,914.885.
Moreover, APE price dropped by 59.87% in the past six months, showing poor performance. Also, the year-to-date return of APE price is negative with a 43.09% decline.
Apecoin Price Technical Analysis in 1-D Timeframe
Apecoin price dropped a lot in six months, from $6.418 to $1.815, making lower highs and lower lows. APE price followed the trendlines of support and resistance very well. APE price was giving positive signals from $2.089.
Moreover, the volume graph shows that more buyers are interested in Apecoin. Also, in the long term, Apecoin might be forming a bullish pattern called a falling wedge, which means it could break out soon. It has already bounced from a major support level at $1.802. To go higher, the price needs more buyers in the longer trend.
Apecoin crypto price (APE) is above the 20-day EMA (exponential moving average). The 20 EMA is acting as support, pushing the price trend up. However, the price is below 50, 100, and 200-day EMAs which implies that the price is trading below in a longer trend. Therefore, Apecoin price prediction suggests the coin price could spike if the buyers accumulate.
The MACD line at 0.112 and the signal line at 0.139 are below the zero line. A bullish crossover is observed highlighting a bullishness for the coin. The current value of RSI is 46.66 points, and the 14 SMA is at 36.82 points, the RSI line took support and headed for the overbought zone. Hence, the Apecoin price prediction suggests the coin price is bullish.
Conclusion
APE coin chart shows investors are bullish regarding the stock on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. Technical parameters of Apecoin price also support the bullish trend. The major indicators are giving positive signals and imply that the uptrend may continue.
Technical Levels:
- The nearest support: $1.802 and $1.119.
- The closest resistance: $3.083 and $3.571.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
