Apecoin Price Prediction: Will APE Keep Resilience Above $4.00?

Apecoin price predicts that it has been under the rule of bears for the past few sessions. The price got stuck in a narrow congestion range and gave no clear moves. The bearish chart structure is due to the head and shoulder pattern formation, whereas bears are trying to deliver more headwinds.

APE price consolidates in a biased range and trades below the significant moving averages. The support mark of $3.810 is the immediate support range to test. Furthermore, if the coin breaks the neckline of the cage, then the above mark of $4.350 will react as an immediate hurdle.

APE coin price action shows that the coin is facing tight consolidation, and the fight between the buyers and sellers continues. The volume shows decent participation of investors and an upsurge in the last session.

Apecoin Price on daily chart

On the daily chart, the head and shoulders pattern gives an extra advantage for sellers to make shorts in the last week. On the other hand, it is close to its 20 days EMA, which was placed near $4.10 and will be retested for further directional moves. However, buyers are awaiting for a fresh move.

At the time of writing, Apecoin is trading at $4.020 with flat moves. However, the price is near its upper trendline, which, if it breaks, gives potential to bulls for breaking the consolidation range.

What Traditional Indicator Says About Apecoin ?

Apecoin price on the 4-hour chart forms a symmetrical triangle pattern and looks to break the range in the near sessions. The lower highs and lower lows formation will lead the coin price toward the verge of a breakout. Apecoin must hold above $4.000 to go above the neckline at $4.20 for bullishness.

Additionally, the RSI curve hovers near 45 near the neutrality zone, indicating a neutral trend– with the previous negative crossover remaining on the curve below 50.

The MACD indicator has noticed a bearish crossover in the recent trading hours which looks like bears are continuing to break the momentum of bulls and trying to hold prices below the benchmark of $4.00.

The price action conveys that bulls are still looking weaker than bears with lower lows formation in recent sessions. If the price heads up above $4.30 will set a fresh beginning of an uptrend below that, this congestion range will favor sellers to make shorts.

Technical Levels

Support Levels: $3.80 and $3.50

Resistance Levels: $4.30 and $4.50

Conclusion:

Apecoin is near to showcase a big move, as the breakout of the consolidation phase will carry either side’s moves.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing