Ape Coin Price Prediction – May 5
Over a couple of long trading sessions, the APE/USD is yet to recover as the crypto-economic price experiences downturns. However, the market percentage outlook features a positive figure of 2.71, trading between a tight space of $14 and $13 value lines.
APE/USD Market
Key Levels:
Resistance levels: $16, $20, $24
Support levels: $12, $10, $8
APE/USD – Daily Chart
The trading chart showcases that the APE/USD market experiences downturns in its valuation. The SMA trend lines have had a conjoint outlook to markdown the trade worth around the $16 resistance trading level. The 14-day SMA has faintly bent southward against the 50-day SMA. The bearish channel trend lines are to enclose all the activities. The Stochastic Oscillators have crossed southbound from the overbought region toward the range of 20.
Will the APE/USD market lose more stands as the crypto economy experiences downturns?
The APE/USD market trending outlook poses a trait of losing more positions as the crypto economy experiences downturns within the bearish channel trend lines. Likely, buyer won’t come back forcefully until the price declines to a lower trading support line around the $12 support level. In that presumption playing out, some decent buying openings will be.
On the downside of the technical analysis, the APE/USD market sellers have to hold their positions headlong for some time below the $16 resistance point. A smaller bullish candlestick appears to be in the making to signify the near potentiality of the market, making a rebound as the downing motion is to end in about fewer sessions around the $12 support trading line afterward.
APE/BTC Price Analysis
Ape Coin features lower lows in well-defined bearish channel trend lines, pairing with Bitcoin. As of writing, the cryptocurrency pair price experiences downturns underneath the trend trading SMAs. The 14-day SMA has moved southward to conjoin with the 50-day SMA from the top. The Stochastic Oscillators have southbound from the overbought region to near the 40 range line. The strength of the downward force may still run for some time over the base crypto to the advantage of the countering crypto economy.
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Source: https://insidebitcoins.com/news/ape-coin-price-prediction-for-today-may-5-ape-experiences-downturns