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- 1 Ape Coin price prediction is bearish till APE crypto price is trading below $2.00.
- 2 APE price faced rejection from $2 and trading below the 50-day EMA showcase downtrend.
- 3 Ape Coin price is near yearly lows and buyers are trying to defend the $1.00 level.
Ape Coin price prediction remains bearish till APE price trading below $2.00. The prices are continuously falling by forming lower low swings. It indicates the dominance of sellers on the higher levels.
APE price faced rejection from $2 and trading below the 50 and 200-day EMA showcasing that the trend is in a downward direction. Meanwhile, the spike in the selling volume is also visible. It indicates sellers are active and prices will face difficulty to hold the higher levels.
In the past few months, the Ape Coin price consolidated in the narrow range between $1.800 to $2.500. It showed signs of long-term base formation and created a hope for upward range expansion.
Sadly, in the mid of August, the APE price broke down the $1.800 support. It triggers negative sentiment and invites further decline.
Ape Coin price is trading at $1.486 with an intraday rise of 0.75%. The 24-hour volume to market cap is 6.21%.
The pair of APE/BTC is trading at 0.00005453 with an intraday rise of 1%. The chart pattern of both pairs looks similar. Therefore, the sellers are active and the possibility of recovery is low.
Ape Coin Price: Which will Come First $1.00 or $2.00?
Ape Coin price prediction suggests prices are oversold and a short-term pullback rally is possible. The prices had corrected a lot and were down by 20% in August. Therefore, APE crypto price is likely to consolidate near $1.00 before deciding the next direction.
Till the Ape Coin price is below $2.00 it is expected to remain in bears’ grip. Any short-term pullback rally will face difficulty in the supply zone. However, if the buyers are able to break the $2.00 hurdle then short-term bullish trend reversal might be visible.
On the other hand, if APE crypto price drops below $1.300 then Bears may try to drag it down to $1.00.
Will the APE Price Recover in September?
APE price is bearish on daily, weekly, and monthly time frames. However, the overall crypto market is recovering so if the recovery continues in BTC then it might positively impact APE.
The MACD curve slopes sideways and buyers are trying to generate a positive crossover. If they succeed then the possibility of reaching $2.00 will increase. The RSI curve is at 35 near the oversold territory so a relief rally might trigger anytime from lower levels.
Conclusion
Ape Coin price prediction is mild bearish till it trades below $2.00. Recently, the APE price broke down the lower range support of $1.800 which hurt the sentiment of investors.
The analysis suggests that the Ape Coin price is in the bears’ grip and its probability of regaining the $2 in September remains low.
Technical levels
- Resistance levels: $2.130 and $2.522
- Support levels: $1.300 and $1.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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.
