- In the last 3 sessions, Ape recovered the asset price by 23% and now holds the gains.
- The price now exists above the 20 EMA, showing the buyer’s interest
- Apecoin forms the double bottom pattern on its daily chart showing bullish moves.
Apecoin moves with other altcoins showing that APE is now ready to showcase the breakout. The coin is now holding the 50 EMA and targeting to approach the 1000 EMA. The immediate resistance for the coin is now at $5.30. The bulls now look like they recover their muscles and are ready to fight the aggressive bears.
Over the past few days, Ape was trading in a range and not showing aggressive moves. The anticipation in the price resulting in a decrease in the trading volume which leads the trend shifts to downside. The fib retracement indicates that the price is now retraced back from the bottom and trying to close above $5.20 which confirms the breakout in the token.
On the daily chart, APE forms the double bottom which has started to give out the price pumps. The volume in the recent weeks jumped by 26%. Now the token is trading above the psychological level of $5. Meanwhile, APEcoin live trading price is $5.068 along with 1.02% drop.
Notably, the market capitalization is in bulls’ favor by 5.1% at $1.55 Billion. However, from last months, the price makes the roller coaster move and unable to face the aggressive bears. Amid, after the correction happened in the Sep, the token tends to recover but at price $6.40, APE faces the resistance and changes the trend towards the downtrend.
RSI indicator just reclaimed above the semi-line (50 mark). As well as, the MACD is approaching the neutral zone after bullish crossover.
Conclusion
The APEcoin price reached the resistance zone of the narrow range-bound market. Buyers need to gather Apecoin before breaking the $5.3 resistance level before they often fail to break out.
Support level – $4.0 and $3.0
Resistance level – $5.3 and $8.0
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they 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/2022/11/06/apecoin-price-analysis-ape-price-shows-consecutive-gains-will-it-sustain-above-20-ema-in-the-last-3-sessions-ape-recovered-the-asset-price-by-23-and-now-holds-the-gains-the-price-now-exists-abov/