Apecoin price analysis shows that the coin has good potential to rise in the near future. The current market trend is also bullish for Apecoin. The support for Apecoin is present at $7.73 and the resistance is present at$8.11. The market is looking to recover from the previous lows as prices correct higher. Apecoin’s price is currently trading at$8.11 after a minor correction from the highs of $8.09. The market had a good run in the past few days as prices surged by over 10%. However, the gains were short-lived as the market corrected lower. The current market trend is bullish and there is a good chance that prices will continue to rise in the near future.
APE/USD 1-day price chart: Bulls gear up for a push above$8.11
Apecoin price analysis indicates APE/USD prices have been hovering around $7.78 to $8.18, with a trading volume of $406,394,199.47.The prices are trading in an ascending channel on the 1-day chart. The 100 Simple Moving Average (SMA) is currently above the 200 SMA, which indicates that the path of least resistance is to the upside. The MACD indicator is also in the bullish region as prices are trading above the zero line. The RSI indicator is also in the overbought territory, which indicates that prices may correct lower in the near future. However, the bulls are likely to defend the $7.78 support level as they aim for a push above $8.11.
Apecoin price analysis on the 4-hour chart: corrective move underway
Apecoin price analysis on the 4-hour price chart indicates the price index is currently trading at $7.87 after a corrective move from the highs of $8.09.The market is experiencing some buying action as prices move higher. The EMA lines are also close to each other, which indicates that the market is in a consolidation phase. The 50-day EMA line is currently below the 200-day EMA line, which indicates that the market is in a bullish trend.
The MACD line is currently above the red signal line, which indicates that the market is in a bullish phase. The RSI indicator is currently in the overbought territory, which indicates that prices may correct lower in the near future. However, the bulls are likely to defend the $7.78 support level as they aim for a push above $8.11.The ATR indicator is currently at 0.0029, which indicates that the market is in a consolidation phase.
Apecoin price analysis conclusion
Apecoin price analysis today shows a bullish market as prices move higher. The market is currently in a corrective phase as prices move higher. The bulls are likely to push prices above the $8.11 resistance level as they aim for higher levels. However, the market may correct lower in the near future as the RSI indicator is in the overbought territory. The next level of resistance for APE/USD prices will be at $8.41.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Source: https://www.cryptopolitan.com/apecoin-price-analysis-2022-05-22/