APE/USD Bulls Keeps a Strong Grip on The Support Level

Apecoin continues to keep a firm grip on the $2.88 support price level however its bulls continue to fail to advance the price to a new level. The sellers are very aggressive, but the buyers are not ready to shift grounds for the selling pressure. Although the resistance level has shifted to a lower level around $3.207, the support level seems unmoved by the bearish pressure.

Apecoin Market Price Statistic:

• APE/USD price now: $3.18
• APE/USD market cap: $1,016,916,301
• APE/USD circulating supply:306,875,000.00
• APE/USD total supply: 1,000,000,000
• APE/USD coin market ranking: #42

Key Levels

• Resistance: $3.5, $4.0, $4.5
• Support: $2.5, $2.0, $1.5

Apecoin Market Price Analysis: The Indicators’ Point of View

 The strong bearish market move of November 6 which takes its basis from the $5.15 level remains very active even today. But, sellers continue to fail to take the price below the support level. This bearish move was reflected by the lower band of the Bollinger indicator as it moves lower. But as the bullish support still holds firmly, the band is now switching to a horizontal movement. It is looking like the market is entering into a price consolidation period judging from the narrowing proximity between the resistance level and support level.

APE/USD 4-Hour Chart Outlook

From this outlook, the Bollinger bands continue to narrow due to the price tug-of-war. But bulls are becoming stronger as the session progresses. The price actions are now above the 20-day moving average. However, the outlook of the latest candle shows a high level of market gridlock. 

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