The Apecoin price analysis reveals the coin price has increased today despite the overall bear market. The APE/USD has been marking higher highs since 18 July 2022, consolidating for a little more than a week in between before making another jump. The same is the case this time, as the coin was consolidating on 27 July 2022 again and made another jump high today. The price has increased to $7.27 as the bulls overwhelmed the market again.
APE/USD 1-day price chart: APE makes another jump high
The 1-day Apecoin price analysis shows the price movement has been upwards for the last three weeks, as the coin is bullish overall, and today’s price increment is quite high due to the fact that the cryptocurrency gained 15.27 percent value during the last 24 hours. The APE/USD is trading hands at $7.27 at the time of writing after today’s bullish jump, and the coin is also reporting a more than 23 percent increase in value for the past week.
The trading volume has increased by a little more than 24 percent, and the market cap has also increased by 15.56 percent over the last 24 hours, as the bullish momentum has been strong until now.
The volatility is high for APE/USD as the Bollinger bands have been covering more area over the past two weeks. The upper band is at the $7.62 mark representing resistance for the coin, and the lower band is at the $4.79 mark; the average of the Bollinger bands is at the $6.20 mark representing support for the APE/USD. The moving average (MA) continues to trade above the SMA 50 curve and is trading at the $6.68 mark.
The relative strength index (RSI) is trading on an upwards curve near the border of the overbought zone. It is found at index 66 and may cross the border to the overbought region if the buying momentum continues for a few hours more.
Apecoin price analysis: Recent developments and further technical indications
The 4-hour Apecoin price analysis shows that the price breakout was upwards at the start of today’s trading session, and since then, bulls have been showing momentum by heightening the price continuously. The price trend line has been upwards for the last 28 hours, along with a small correction in between.
The volatility is quite high on the 4-hour chart. As the Bollinger bands are expanding, the price has jumped above the upper band, which is a clear bullish indication. Whereas the upper band is present at the $7.25 mark and the lower band is present at the $6.27 mark. The RSI shows an upwards curve, indicating the buying momentum in the market at index 61.
Apecoin price analysis conclusion
The Apecoin price analysis suggests that despite the corrective market today, the APE is on improvement, the coin is racing high, and as the 4-hour chart shows, the price has been uplifted during the last four hours to the $7.27 level. A further improvement is also expected in the coming hours, and we expect APE to remain bullish for today.
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Source: https://www.cryptopolitan.com/apecoin-price-analysis-2022-08-03/