How Long Can Buyers Hold On?

ApeCoin price noted a red candlestick on the charts after maintaining a bullish closing in the last three sessions. On Saturday, the buyers attempted to resume the positive trend driven from the earlier sessions, but the sellers near the 50-Day EMA halted the momentum and the price dropped after losing the morning gains.

The crypto performed well in the current week and recovered nearly 50% of the losses in the last week. The APE crypto added over 6% to its market value in the whole week. 

Moreover, the overall trend outlook is still bearish as the crypto is yet to conquer its recent highs post which it may lead to a trend reversal. Every rise in the APE crypto may be considered as an opportunity for the sellers and the crypto may slump to the lower levels.

ApeCoin Price Long Term Analysis

The long term trend outlook is bearish below the 200-Day EMA. The ApeCoin cryptocurrency made a short term bull run in October which continued till December end. The crypto traversed from a low of $1.25 to $1.808 gaining over 40%.

However, the crypto could not surpass the 200-Day EMA over the daily chart. The crypto reversed its course in the short term and turned bearish.

Currently, the price holds near the previous breakout zone and is seeking for the buyers support to sustain at the lower levels. Also, a symmetrical triangle pattern was observed on the charts.

The price currently hovers back and forth respecting the upper and lower boundary of the triangle pattern. Now, any breakout or breakdown of the triangle pattern may initiate a fresh selling or buying.

At the time of writing, the RSI line was placed at 50.58 above the mean line. While the SMA line was at 48.52 points. Both the lines were hovering near the mean line indicating a neutral outlook in the short term.

ApeCoin Price Prediction February 2024

The most positive for our analysts hope for the price to reach a high of $1.70 if it breaks above 20 and 50-Day EMAs on the higher side. On the contrary, the pessimistic view of analysts assumes the price to break and close below the $1.3 level post and test lower support levels of $1.2 and $1.15.  

ApeCoin Price Prediction 2024

The price forecast for the year 2024 is that the APE token price could reach a high of $2.34, suggesting a potential gain of nearly 1.85%. On the other hand, the less positive analysis of the analysts suggests that the price could attain a high of $1.89. 

ApeCoin Price Prediction 2025

By the year 2025, the ApeCoin price may attain $3.53 on the upper end. On the flip side, the minimum price up to which the crypto price is expected to rise by the year 2025 is $2.62.

Disclaimer

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

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.