ApeCoin Shows Bullish Bias; This Level Needs To Be Broken For A Rally To $7
30 Oktober 2022 - 02:47AM
NEWSBTC
APE’s price shows strength as it bounces from a downtrend range
price rallied to a high of $5 with eyes set on $7. APE could
rally more as the price creates more bullish bias by breaking out
of a downtrend triangle with eyes set on rallying higher. APE’s
price remains strong on the daily timeframe below the 50
Exponential Moving Average (EMA) as the price aims for more
rallies. The price action displayed by Apecoin (APE) in the past
few days has been tremendous, with Bitcoin (BTC) creating a more
bullish scenario across the crypto market; this has also propelled
the price of Apecoin (APE) from its key support area. The crypto
market is looking increasingly welcoming as many altcoins continue
producing over 50% gains. The likes of DOGE have seen some great
runs in recent times rallying from a low of $0.055 to a high of
$0.15, with many others, like APE showing great recovery signs.
(Data from Binance) Related Reading: Chainlink Price Consolidates,
How Long Will The Bulls Stick Around? ApeCoin (BTC) Price Analysis
On The Weekly Chart Apecoin (APE) has struggled to regain its
bullish momentum in recent times; despite the uncertainty that has
befallen the crypto space, the price of APE has enjoyed a measure
of relief after showing so much strength on the weekly low,
rallying to a high of $5. Previous weeks have been nothing short of
a tough and boring time for APE price as price continued in its
range movement around $4.2, holding above key support area haven
enjoyed some great rally during the “Otherside” metaverse sale.
After its weekly close of above $4.3, the price of APE rallied to a
high of $6; the price has faced a minor rejection to break higher
to a region of $6-$7; the price struggled to break above this
region. The price of APE has maintained its bullish structure above
the $4.3 region, as the price of APE eyes a rally to a region of $6
which could prove to be very key in its price rally to $7. If the
price of APE fails to overcome $5-$6, we could see the price drop
to $4.5-$4.3 Weekly resistance for the price of APE – $6-$7. Weekly
support for the price of APE – $4.5. Price Analysis Of BTC On The
Daily (1D) Chart In the daily timeframe, the price of APE continued
to look strong as the price broke out of its descending triangle,
with good volume rallying to a high of $5 but faced a little
rejection to flipping this resistance into support and trending
higher to a region of $7. APE currently trades at $4.9, just above
its key support formed at $5 after its successful breakout from a
descending triangle. The price of APE trades below the 50 EMA, and
the 50 EMA corresponds to $5, acting as support for the price of
APE. Daily resistance for the APE price – $5-$6. Daily
support for the APE price – $4.5. Related Reading: Bitcoin Bearish
Signal: Exchanges Receiving Large Deposits Featured Image From
zipmex, Charts From Tradingview
ApeCoin (COIN:APEUSD)
Historical Stock Chart
Von Nov 2023 bis Dez 2023
ApeCoin (COIN:APEUSD)
Historical Stock Chart
Von Dez 2022 bis Dez 2023