Will APE Price Hit $7.5 Soon?

• Bullish Apecoin (APE) price prediction ranges from $3.573 to $7.465.
• The analyst predicted APE to hit $7.5 and the token traverses the path as predicted. 
• The APE bearish market price prediction for 2023 is $2.861.

Apecoin (APE) Market Overview

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What is Apecoin (APE)?

Apecoin (APE) was launched on March 17^th, 2022 by the team behind the Bored Ape Yacht Club that inspired the creation of the Yuga Labs.

APE is the Ethereum-based token used in the Apecoin ecosystem to build a culture of arts, entertainment, non-fungible tokens (NFTs), and next projects. The APE token helps in driving the Apecoin ecosystem into the metaverse as a decentralized protocol layer that is powered by its community.

The presence of the Apecoin Ecosystem Fund is to provide the resources that are needed the run the expenses of the APE Foundation. The fund is a multisig wallet that ensures more security as instructed by the Apecoin DAO. 

The Apecoin DAO is an infrastructure that ensures that APE token holders contribute to the policy and governance decisions of the Apecoin Foundation.

Analysts Views on Apecoin (APE)

A  crypto fanatic on Twitter with 10 Bored Ape NFT tweeted that he has also staked all of his Apecoins in the hope of going bullish.

Another tweet of the metaverse strategist at HorizonLabs mentioned that there would be opportunities of making Apecoin the currency of the metaverse. If that happens, Apecoin can break its current high, although it is in the bear era. 

Apecoin (APE) Current Market Status

The maximum supply of Apecoin (APE) is 1,000,000,000 APE, while its circulating supply is 368,593,750 APE coins, according to CoinMarketCap. At the time of writing, APE is trading at $4.32, representing a 24-hour decrease of 1.57%. The trading volume of Apecoin in the past 24 hours is $160,509,499, representing a 12.19% increase.

Some top cryptocurrencies exchanges for trading Apecoin (APE) are Binance, Coinbase, Kucoin, Kraken, Bitfinex, Bitstamp and others.

Now that you know what APE is and its current market status, we shall discuss the price analysis of Apecoin (APE) for 2023.

Apecoin (APE) Price Analysis 2023

Currently, APE is ranked in the 37th position on CoinMarketCap. Will developments and upgrades within the Apecoin community lead to rising in the price of Apecoin (APE)? We shall see this in this Coin Edition price analysis 2023 article.

Apecoin (APE) Price Analysis – Keltner Channel

The chart above shows a white rectangle that denotes the expansion of the Keltner channels. When the bands widen it means that there is going to be more volatility. Or in other words, the prices could drastically drop or increase. 

When the price of a cryptocurrency continuously touches the upper or lower band and thereafter touches the opposite band, (which is, if a cryptocurrency continuously touches the upper band and finally touches the lower band, then we could determine that the bullish trend has faded. This applies vice versa as well). 

The red highlighted sections in the charts show how APE touched the upper band of the Keltner channels and how the trend changed. Moreover, currently, APE is testing the EMA of the Keltner channel from the second half of the Keltner Channel. If this trend continues then there could be a trend reversal on the horizon for Stellar. Additionally, since the Keltner channel is facing sideways, we could expect the prices to keep on consolidating.  

Apecoin (APE) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). Moreover, the upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average.  

This concept has been followed since as per empirical law for the datasets it is believed that data for a normal distribution will 95% of the time fall within two standard deviations of the mean. Hence, following this law, we could expect the prices of security to remain with the Bollinger bands 95% of the time. 

Additionally, when the bands widen it means that there is going to be more volatility in the market. In other words, there could be a drastic surge or drop in prices in the future. And when the band contract, the opposite happens which is less volatility.  

Moreover, when a security touches the upper or the lower Bollinger band, we could expect the prices to return to the middle band. 

Notably, the Bollinger band behaves very closely with the Keltner channel. For instance, if you were to use both the Bollinger bands and Keltner channel indicators for a cryptocurrency, you would see that almost most of the time both of the indicators overlap. However, the only difference between with Bollinger band and the Keltner channel is that the Bollinger bands use Standard Deviation while the Keltner channel uses Average True Range. 

Apecoin (APE) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is basically a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA it is considered bullish and if it’s below the SMA then it is bearish. When considering the chart below we can see that when the RSI line is above the Signal, APE is bullish or gaining value but when it is below it is on a downward trend. 

Additionally, the RSI compares the gains of the securities against the losses it made in the past. This ratio of gains and losses is then deducted from the 100. 

If the answer is less than 30, then we call that the price of the security is in the oversold region. This means that many are selling the security in the market, and as such the security is undervalued.  Moreover, as per the Supply-demand curve theory, the price is supposed to drop when there is an increase in supply. 

If the answer is more than 70 then the security is overbought as many are buying. Since many want to buy the security the demand increases which intuitively increases the prices.

Additionally, the RSI could be used to determine how strong a trend is. For instance, when a cryptocurrency is bullish or reaching higher highs, then the RSI line also should be making higher highs in unison as shown in the chart above. If not it means that although the cryptocurrency is on a bullish trend it is losing value and hence a trend reversal could be lurking around the corner. However, it could also give false alarms. As such, traders should be wary of it and let the market saturate before making vital decisions.

Apecoin (APE) Price Analysis – Moving Averages

The Moving averages are quite similar to the simple moving averages (SMA). However, the SMA smoothens down all values whereas the Exponential Moving Average gives more weightage to the current prices.  As such the MA equation has a greater reference to the present prices which is required in the volatile industry of crypto. 

Whenever the price of cryptocurrency is above the 50-day or 200-day MA, or above both we may say that the coin is traversing a bullish trend. Contrastingly, if the token is below the 50-day or 200-day, or below both, then we could call it bearish.  

When looking at the highlighted section with a grey rectangle in the above chart, we can see that APE tested and broke above the 50-day MA. However, it wasn’t able to stay above the 50-day MA for an extended period. After falling below the 50-day MA, the token tested the preceding MA finally broke out as shown by the circle. 

With more momentum from the bulls, APE finally reached above the 200-day MA, as shown by the section highlighted in green. Once again, APE could not hold onto the position it gained for long, as such it is currently fluctuating below, the 50-day and 200-day MA. Additionally, since the 50-day MA is approaching the 200-day MA from above, there could be a death cross, if the two lines were to intersect. If the death cross happens, then APE could tank even further. 

Different indicators hinge on different parameters of a cryptocurrency, like volatility, the strength of the coin,etc. Hence, traders must use the appropriate indicators in unison to properly figure out the technicalities of coins. Especially, because each indicator has its own limitation.

Apecoin (APE) Price Prediction 2023

When looking at the above chart, we could see that APE has been fluctuating between Support 1 and Resistance 1 lately. The Resistance 1 at $4.898 has been a formidable barrier since APE tested the Resistance but was rejected multiple times. However, in the event, APE rides on a bullish trend then there are two possible paths that APE could traverse. 

The first path as shown by the yellow rectangle is forecasted by the yellow arrow. In particular, APE broke through Resistance 1 ($4.898) with just one bar and reached Resistance 2 ($6.364), after which it held its bullish shape and reached Resistance 3 at $7.465

The second bullish path that APE could take is shown by the green arrow which suggests that APE may test Resistance 1 at $4.898 a couple of time and may then rise to Resistance 2 ($6.364). 

Contrastingly, if by any means APE does not have the momentum to break through Resistance 1, it may seek land on Support 1 at $3.573 which doesn’t seem to be good support. If Support 1 fails to interject APE’s fall then it might fall to Support 2 at $2.861, as shown by the blue arrow. 

In the event APE receives some support from Support 1, then we could expect APE to consolidate for a brief period as shown with the blue arrow, before falling to Support 2.

Apecoin (APE) Price Prediction – Resistance and Support Levels

When looking at the above chart, we could see that APE has been fluctuating with Resistance 1 at $7.453 and Support 1 at $3.116 since May 2022. It was only able to test Resistance 1 just a few times as the bears were in control. 

Although Resistance 1 seems to be a tough hurdle to break through and if by any means APE is to break it, then, we may see a surge to Resistance 4 at about $25. This is because APE will have the potential to break Resistance 2 and 3 very easily based on its behavior in the past.

Apecoin (APE) Price Prediction 2024 

Apecoin (APE) price can rise to incredible heights, peaking at $11.36. It is feasible only if the market continues its upward path and APE breaks through the past psychological resistance levels.

Apecoin (APE) Price Prediction 2025

APE prices might grow to $15.046 during the next three years. This is only feasible if the market continues its upward path and if APE breaks through the past psychological resistance levels.

Apecoin (APE) Price Prediction 2026

APE prices might grow to $18.805 during the next four years. The growth will continue after that moderate, but no significant drops are forecast. 

Apecoin (APE) Price Prediction 2027

Investors expect a bullish run in 2027 due to the halving of Bitcoin. APE prices might soar to $23.624 in the next five years. Furthermore, hitting this level may be easy for APE as other mediums, such as short-term and long-term price objectives for purchase or sell orders, may be discovered. 

Apecoin (APE) Price Prediction 2028

In 2028, Bitcoin halving will occur. Hence, the consolidating market in 2027 could be followed by a bullish run. Notably, the market could attain higher values. In the next five years, APE prices could rise to $28.362. According to the forecast, APE has a strong chance of reaching the previous ATH.

Apecoin (APE) Price Prediction 2029

By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing lessons learned to ensure their investors retain the project’s confidence. In the next six years, APE prices could rise to $33.196. According to the forecast, APE has a strong chance of reaching the previous ATH.

Apecoin (APE) Price Prediction 2030

The cryptocurrency market experienced high stability due to the holding activities of early investors so as not to lose future gains in the price of their assets.  In 2030, APE prices could rise to $37.907. 

Apecoin (APE) Price Prediction 2040

According to our long-term APE price estimate, APE prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $85 by 2040. If the market turns bullish, the price of APE could go up beyond what we predicted for 2040.

Apecoin (APE) Price Prediction 2050

According to our APE forecast, the average price of APE in 2050 might be above $180. If more investors are drawn to APE between these years, the price of APE in 2050 could be far higher than our projection.

Conclusion

Apecoin might hit $7.5in 2023 and $37 by 2030 if investors have decided that APE is a good investment, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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