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- 1 ApeCoin (APE) is currently trading at $2.00, a slight decrease of 0.17% in the past 24 hours (press time)
- 2 APE lost 2.35% in the past week and has a market cap of $744 Million.
ApeCoin is currently performing poorly. APE plunged by 92.49% from its all-time high of $26.70 in 12 months. The market sentiment for APE coin is not very optimistic. The volume is low, and there is little demand for the coin.
Sellers dominate the APE chart as investors have lost more than 93% of their initial investment. However, some investors may still hold on to their APE coins, hoping for a reversal in the future.
ApeCoin could benefit from positive developments in the crypto space or its project. Nevertheless, ApeCoin faces many challenges and risks in the volatile and competitive crypto market.
ApeCoin Technical Analysis
APE price is below the 50 and 200 EMAs, indicating a bearish trend. The price may continue to decline in the following week if the sellers maintain the pressure. The bulls have no chance to take over the market right now. A death cross was seen on the chart. The APE price may find some support at the previous lows or the psychological level of $1.00. Furthermore, APE may bounce back if there is a bullish crossover or a positive catalyst.
The MACD indicator also shows a downward trend. The MACD line at -0.046 and signal line at -0.059 is under the zero line, implying that the MACD is in the negative zone and is giving bearish signs.
The current value of RSI is 43.16 points. The 14 SMA line is currently near the middle line, around 44.25 points, indicating pessimistic sentiment in the market. The market faces strong bullish sentiment as the price moves towards the overbought zone.
Volume Analysis
ApeCoin’s mean trading volume for the past 24 hours is $56,322,920. It is displaying a 32.20% decrease in volume intraday. APE’s low volume is largely due to a lack of demand among investors.
Summary
ApeCoin is suffering in the market. Based on the price movement, it appears that a price breach of its main trendline support level may result in further decline in the following days. ApeCoin’s price indicates a bearish situation at the moment. The EMAs, the RSI, and the MACD are giving negative signals about the coin. The indicators are not showing any signs of recovery as of now.
Technical Levels:
- Support – The current support level is $1.822.
- Resistance –The current resistance level is $2.548.
Disclaimer
The research given in this article is for informative and educational use only. Do not take this information as a financial or trading recommendation. Trading and investing have financial risks. Please consider your risk profile and circumstances before creating any investment or trading decision.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
