The price is going high according to the hourly and daily Apecoin price analysis. This is because the bulls have managed to escape through the bearish pressure, and green candlesticks have returned to the price charts. More buyers are entering the market and taking the price flow in the upwards direction. The price had been moving upwards quite consistently since yesterday, and now it has reached the $9 range as the bulls are powering through.
APE/USD 1-day price chart: Ape bulls mark 67.46 percent gains
The one-day Apecoin price analysis is confirming the uptrend as the price can be seen standing on the $9.18 level after gaining 67.46 percent value during the last 24 hours. The past week proved critical in deteriorating the cryptocurrency’s value as the coin is still at a loss of 32.84 percent for the past week, but the trends have undergone a clear shift now. The price is going upwards once again after the bulls made a comeback yesterday. Also, if we talk about the moving average (MA), then it is standing at the $10 level, quite close to the price.
The volatility is high and still increasing with time. The Bollinger bands Indicator dictates the following values for the day; the upper limit at $23.8 represents the strongest resistance, and the lower value at $4.92 represents the strongest support for the price function. The Relative Strength Index (RSI) score has moved up to index 42 as well as the buying trend continues.
The Apecoin price analysis: Recent developments and further technical indications
The four hours Apecoin price analysis is predicting a bullish trend as the price has constantly been racing for the past few hours. The uptrend came as a pleasant surprise for the buyers as the price was trading low earlier. And the price has retraced upwards to the $9.15 level, which is above the moving average level, i.e., $7.28. Further increase in price can be expected as the bullish momentum extends.
As the volatility is high, the Bollinger bands average is present at the $7.74 position. Furthermore, the upper and lower values have changed as well; the upper band is now at $10.30, whereas the lower band is at $5.18. The RSI curve is moving up as well as the score has reached index 53 in the upper half of the neutral zone.
The Apecoin price analysis: Conclusion
The price levels have increased further today, as has been confirmed from the one-day and fours Apecoin price analysis. The bullish candlesticks have reappeared on the price chart as the trends underwent a reversal. The price has been increased to the $9.15 level after the bullish comeback. But, if the buyers’ support remains intact, there is a chance that the uptrend for the cryptocurrency may continue.
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Source: https://www.cryptopolitan.com/the-apecoin-price-analysis-2022-05-13/