- APE price chart shows the formation of a rising channel
- The market volume shows volatility.
- The EMA ribbon indicates the possibility of a bullish breakout for Apecoin.
Apecoin forms a rising channel that can soon witness a bullish breakout, breaking the current resistance levels. The APE price is currently near the bottom band after facing rejection near $4.570. Bullish indicators support the bullish momentum and can be witnessed in the coming days. The strength of the uptrend is yet to be assessed, as the signals are not strong enough to establish a bull run.
The Pictorial
Source: APE/USDT by TradingView
APE price action forms a rising channel and moves within a fixed range. Recently, the price faced rejection at $4.570 and holds a spot near the lower band of the channel. The Bollinger Bands diverge slightly after a contracted movement to hint at approaching volatility. The EMA ribbon poses the possibility of forming a bullish crossover, which can cause a breakout in APE price. The flat OBV reflects a neutral market for Apecoin. If the projected breakout occurs, it may break through the resistance of $4.570 and rise beyond the $5 price level.
Source: APE/USDT by TradingView
The Super Trends show a flat bearish trend which may end with the anticipated uptrend. The CCI is falling, suggesting a narrowing gap between the present APE price and its historical prices. The MACD forms a narrow positive cross and records flat buyer bars, reflecting a stagnant market. The RSI moves in the 60-range suggesting a horizontal buyer interest, which may change once the breakout occurs.
The Peephole
Source: APE/USDT by TradingView
The APE price chart shows a prolonged bullish swing in the four-hour time frame. A breakout is imminent, as per Super Trends. The rising CCI shows a widening gap between present prices and historical prices. The MACD nears a convergence and records descending seller bars in the region below the zero-histogram mark. The RSI moves up to the 55-range, suggesting an increase in buyer interest.
Conclusion
The APE price poses a contained movement that can soon witness a breakout under the bullish influence. The bullish momentum may be temporary as the indicators show a weak uptrend. The daily time frame displays the present stagnation, whereas the smaller time frame price action signals the future rise. Holders of Apecoin can rely on support near $4.195. The projected breakout could breach the resistance near $4.570 and surpass the $5 price level.
Technical levels
Support levels: $4.195 and $3.860
Resistance levels: $4.570 and $5.205
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 assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/19/ape-price-prediction-apecoin-ready-to-break-the-rising-channel/