- AIP-138 concluded on December 29.
- Results are majority voting against by 77.36%.
- Price rise is expected.
ApeCoin’s AIP-138– the Special Council Election Process, which started on December 23, ended on 29th, and the majority voted in against by 77.36%. The election process for the ApeCoin DAO was established in AIP-138, which outlines the process for an equal and fair opportunity to be elected to the Special Council. The term will begin on January 1 and last for a year. It also proposed compensation to the Council members as $20,833 of APE or as per AIP-1 per month for the term. Due to this election process, APE prices are highly impacted and awaited results.
The diagrammatic session
The APE prices are hop forming a falling parallel channel, with current price action taking place in the upper half of the panel. It has reclaimed the 50-EMA, while others lie above it. If it can sustain above the level of $3.9, it may mark a breakout and form an uptrend. If the prices rally, they can reach up to $6.275. The pair of OBV and volume also reflect the chances of a surge.
The analysis of APE portrays a neutral market prevailing for now. The CMF pierces the baseline and enters a positive region. The MACD entwines and suggests both forces acting actively. The RSI also approaches near the average mark and shows a steady rise in purchases.
Peephole view
The smaller time frame study showcases prices rising gradually in a straight line. The CMF indicator revolves near the zero mark in the positive zone, marking a positive outlook. The MACD goes nearly non-existing, and the interest lines coincide with the zero-histogram mark. The RSI reaches the upper half region and transitions to a buyer-active market.
Conclusion
The APE army is showing interest in the token as new updates are being made, and with a performance like this, holders are hoping for a price rally. Analysts suggest looking for a $3.9 price level and taking action accordingly.
Technical levels
Support levels: $2.90 and $2.18
Resistance levels: $5.11 and $5.81
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/2022/12/29/apes-to-the-moon-prices-arranging-for-spacesuits/