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- 1 The APE crypto is down 6.38% in Intraday and currently trades at $1.410.
- 2 The APE/USD chart technical outlook showcases a bearish outlook in the long term.
ApeCoin price remains defensive below the 50-Day EMA in the early morning session on Friday. Yesterday, the buyers attempted to surpass the 50-Day EMA, consequently, a green candle was observed on the charts.
However, they could not defend the price above the 50-Day EMA on Friday and the price slumped below the 50-Day EMA after a short struggle in the morning session.
Earlier, the crypto started the week with a positive note and experienced volatility near the 50-Day EMA. However, buyers somehow managed to gain nearly 8% by the end of Thursday’s session.
Moreover, the bears turned aggressive and snapped all the gains and dragged the price near the weekly low value. At the time of writing, the ApeCoin price was at $1.410 with an intraday drop of 6.38%.
It ranks 3017th in terms of market capitalization with a live market cap of $522.85 Million. It has a 24-hour trading volume of $108.809 Million with a 79.8% rise as compared to yesterday.
ApeCoin Price Technical Analysis
Moreover, the long term outlook remains on the bearish side until it hovers below the 200-Day EMA. looking over the past performance over the last three months the crypto has been volatile with major ups and downs.
The APE crypto formed a bullish trajectory between October to December 2023. The price went from $1.04 to $1.84, gaining over 80% in two months. However, the bears made a comeback in December when the crypto noted a downfall.
The price dropped from $1.8 in December 2023 to $1.25, losing over 45% of the gains. The fall took the price to a three-month low value.
Recently, a double bottom pattern was observed on the charts in the 3rd week of January after which price surged. However, the buyers may be losing steam near the 50-Day EMA.
Now, fresh downside moves may be visible if the price breaks below the $1.25. Whereas, the buyers may turn aggressive if the price breaks above the $1.50 on the upper side.
ApeCoin Price Prediction February 2024
The most optimistic view of analysts assumes that the price may attain a high of $1.70 by the end of February 2024. However, the pessimistic view of analysts predicts that the price may slide below the recent support levels of $1.25.
ApeCoin Price Prediction 2024
The price forecast for the year 2024 is that the APE token price could reach a high of $2.51, suggesting a potential gain of nearly 77.28%. On the other hand, the bearish outlook of the analysts predicts that the price could reach $1.967 by the end of the year.
ApeCoin Price Prediction 2025
By the year 2025, the ApeCoin price may attain $3.564 on the upper end. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $2.66.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and 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.
