The Apecoin price analysis: APE continues higher at $16, gaining 30 percent overnight

TL;DR Breakdown

• The Apecoin price analysis is strongly bullish today.
• APE to set a record high as the price is touching $16.
• The support for APE/USD is present at $13.3.

The Apecoin price analysis report shows the crypto pair is in a full bullish swing as the coin continues to move higher for the second day. APE made high gains on 17 and 18 March 2022, and after that, the price movements slowed down. The coin started to rally high yesterday and set a record high at 13.3; however, a wild swing high towards $40 was also observed on 17 March 2022, but the price corrected back soon. Yet today, the Bulls have covered a good upwards range from $13.3 to $16. The bulls are taking the bar higher, and $18 seems to be their next target.

APE/USD 1-day price chart: Ape bulls aim for $18

The 1-day price chart for The Apecoin price analysis shows the coin is still aggressively moving up, gaining significant value, after continuing upside for the last four days. But from yesterday, the APE has started to spike again, as it is now trading at $16 at the time of writing which shows the massive gains it made in just two days.

The APE/USD reports a gain in value by more than 30 percent over the last 24 hours and also reports an almost equal 30.2 percent gain in price value over the past week, which makes it the highest gainer among the top 100 cryptocurrencies. Apecoin’s market cap has also improved by 31.22 percent over the past day, and the trading volume went up by 272 percent during this time.

The volatility is increasing as the coin is racing high. The upper limit of the volatility indicator, the Bollinger band, represents technical support for APE at $14.4, as the price is trading above the upper band, and the lower band has moved down to the $9.7 mark. The relative strength index (RSI) continues to trade in the overbought zone at index 86. The RSI has reached near the border of the overbought zone at index 68 as the indicator has been traveling upwards from 18 April 2022, indicating high buying activity in the market.

The Apecoin price analysis: Recent developments and further technical indications

The 4-hour The Apecoin price analysis shows that the price rallied high during the first four hours of today’s trading session and then corrected for the next four hours. Now the coin price has started to move up again and is almost breaking past the limit where the last hourly correction started. The RSI curve has flattened out and shows a straight horizontal movement on the 4-hour chart. This might be due to the correction and, then again, a takeover by the bullish side.

The price still trades above the upper Bollinger band on the 4-hour chart as well, which shows support for the price function at the $15.7 mark, and the indicator’s divergence also shows high volatility on an hourly basis.

The technical indicators for The Apecoin price analysis are strongly bullish as 11 indicators suggest investing in the crypto asset, and only one indicator opposes the idea. However, five technical indicators stand neutral.

The Apecoin price analysis: Conclusion

The Apecoin price analysis suggests the coin may start to correct or step up as the RSI on the 4-hour chart has flattened out, indicating a slow down in the buying recently, or we can say the buying is resuming after the correction. So traders can assume the coin may break near $18 in the coming hours today.

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