ApeCoin Price Analysis: Is the APE Recovering or Will It Fall from the Fascinating Rising Pattern?

The price of ApeCoin has slipped beneath a rising wedge formation and is currently consolidated on the daily price chart.

APE crypto is trading at 20 and 50-EMA but still below 100-days Daily Moving Average.
The pair of APE/BTC is at 0.000228 BTC with an intraday drop of 2.13%.

The ApeCoin price is declining on the daily price chart and is getting closer to the lower trendline of the consolidation phase. The token has to maintain the rising wedge pattern in order to go on into its recovery phase. The token must keep up its recovery phase inside the secure pattern. Nevertheless, bears are aiming to seize the token that short-sellers are holding. More buyers are required for the APE cryptocurrency to continue to trade inside the rising wedge formation. Investors in APE must hold off until the cryptocurrency’s daily price trend starts to settle.

ApeCoin’s projected current price of $4.09 has raised 0.43% in the last day.In a single day, the APE currency’s trading volume decreased by 31.18%. This demonstrates a dramatic decline in the APE currency’s momentum. It equals 0.1348 volume to market capitalization.

After dropping below the accumulation barrier for the consolidation phase, the price of the APE coin is now seeking assistance from buyers. To change the growing momentum and return to the higher level before the consolidation period, the currency has to attract support from buyers. It can be shown that the volume change was bear-influenced and below normal. Before the token enters its recovery phase, bulls on the APE must assemble.

Will the Ape recover, Check What Technical Indicators suggests?

Bulls are needed to push the price of the APE cryptocurrency over the consolidation phase’s lower trendline. To beat the daily chart, the currency still has to draw in a sizable number of buyers. Technical indicators demonstrate the force of the APE coin’s decline.

The strength of the drop in the APE cryptocurrency is shown by the relative strength index. The RSI is getting close to overbought territory at 53.34 The MACD shows the APE coin’s drop momentum. The MACD line is lower than the signal line following a positive crossing. Investors in APE need to keep an eye on the daily chart for any changes in trend.

Conclusion

The ApeCoin price is declining on the daily price chart and is getting closer to the lower trendline of the consolidation phase. The token has to maintain the rising wedge pattern in order to go on into its recovery phase. The token must keep up its recovery phase inside the secure pattern. ApeCoin’s projected current price of $4.09 has raised 0.43% in the last day.In a single day, the APE currency’s trading volume decreased by 31.18%. This demonstrates a dramatic decline in the APE currency’s momentum. It equals 0.1348 volume to market capitalization.Investors in APE need to keep an eye on the daily chart for any changes in trend.

Technical Levels

Support Levels: $3.85 and $3.18

Resistance Levels: $4.42 and $5.15

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 the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.