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- 1 ApeCoin price prediction is bullish for November and it suggests that a temporary pullback is possible.
- 2 APE price is trying to climb above the 50-day EMA.
- 3 ApeCoin price looks highly oversold and struggles to defend $1.00.
ApeCoin price prediction is bullish for the next month and suggests a pullback rally is possible.
APE price is taking support near $1.00 and buyers are trying their best to rebound. If the buyers succeed in pushing the price above the 50-day EMA, then the short-term trend may reverse upwards.
On the daily chart, ApeCoin price looks bearish and declines by forming lower low swings. It eroded all its previous gains and is trading near its all-time low.
In the last few months, APE crypto witnessed a massive spike in the buying volume. But the price did not rise and continued the downfall. It indicates that short sellers are active on the higher levels and create fresh short positions on a bounce.
At present, APE price looks oversold and is trading in the narrow range between $1.000 to $1.400. The next direction in APE crypto will be visible in price that breaks either side of the range.
ApeCoin price is trading at $1.126 with an intraday rise of 4.94%. The 24-hour volume to market cap is 11.29%. The pair of APE/BTC is trading at $0.00003932 with an intraday rise of 4.24%.
Will ApeCoin Price Recover in November?
ApeCoin price prediction suggests a rise and bulls seem to be getting active. Till the APE price holds the $1.00 level, it will be risky for the sellers to create fresh shorts.
At present the price showed a minor recovery from the lows. But the price will gain momentum when buyers are able to break the $1.400 hurdle.
The crypto leader BTC and ETH price is recovering which improves the market sentiment. So, if the recovery in the BTC price continues, then the APE price might be positively impacted.
The technical analysis suggests that the APE crypto price is oversold so a short-term pullback is much needed.
APE Price Stuck in Consolidation Range
APE price is stuck in the consolidation range. Fresh buyers look reluctant to build long positions due to fear of more sell-offs. The downfall in ApeCoin crypto seems to have taken a halt near $1.00 but the confirmation of the upward reversal is awaited.
The MACD curve is pointing north and the histogram bar turning green indicates mild bullishness. The supertrend says till the price is below $1.209, the trend is expected to remain downward. The RSI at 49 pointing north indicates that short-term bullish traders are getting active.
Conclusion
ApeCoin price prediction is bullish for the next month till it sustains above the $1.00 level. At present, APE crypto is recovering but the price will pick up momentum when buyers are able to break the $1.400 hurdle.
The analysis suggests the downfall in ApeCoin has taken a halt but fresh buyers look reluctant to build fresh longs.
Technical Levels
- Resistance levels: $1.511 and $2.113
- Support levels: $1.000 and $0.800
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.
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.
