Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
ApeCoin price prediction stays bullish for the long term and a significant scope of upside is open.
APE price defends $1.00 level and buyers came forward to push the price higher. While recovering, the price climbed above the 50-day EMA indicating that the short-term trend has reversed in the upward direction.
Meanwhile, APE crypto witnessed a massive spike in the buying volume denoting some genuine investors have turned bullish. So, they might be accumulating the crypto from the lower levels.
Recently, ApeCoin price broke out of the swing high hurdle at $1.30 which triggered positive sentiment and fueled further rallies.
In the last two months, APE price consolidated in a narrow range and formed a strong base. So, if the price retraces down to the base, then it might be a buying opportunity for long-term investors.
At press time, bulls are leading the rally and indicating upward momentum may continue for the coming months. APE price is currently trading at $1.434 with an intraday rise of 0.91%. The 24-hour volume to market cap is 10.27%.
The price pattern of APE/BTC is mildly bearish and trading at $0.00004067 with an intraday rise of 1.32%.
ApeCoin Price Looks Cheap at Current Levels
ApeCoin price prediction favors the bulls and suggests that the price may continue to perform in December. The recent up move looks reliable so buyers will try their best to hold the gain.
Till the APE price holds the $1.200 level, the possibility of continuing the recovery remains high. However, if the price drops below $1.200, then bears will try to pull the price down to previous lows.
The technical analysis suggests that the APE price looks cheap at current levels so investors may buy it to generate nominal returns.
APE Price Turning Bullish on the Daily and Weekly Chart
APE price is turning bullish on the daily and weekly time frame chart. Meanwhile, the crypto leaders BTC and ETH prices are performing well. Due to this, APE and other altcoins have been positively impacted.
Technical indicators like MACD and RSI favor the bulls and indicate that bullish momentum will continue. The supertrend says till the APE price holds the $1.183 level, the trend will remain upward.
Conclusion
ApeCoin price prediction is bullish for the long term and suggests a rise in the coming months.
APE price is recovering from the low and the short-term trend has reversed upward. It indicates bulls are getting active and more upward momentum is possible. The analysis suggests, that the APE price is in bulls’ grip so it may reach $2.00 by December end.
Technical Levels
- Resistance levels: $2.132 and $2.528
- Support levels: $1.200 and $0.988
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. 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/2023/11/08/apecoin-price-prediction-will-ape-price-reach-2-by-december/