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APE/USD started the downtrend journey on the 6th of August when the price reached the resistance of $7.5505. Towards the end of August to early September, bulls tried to resist the downward price push, but their effort was only strong enough to make the market range sideways. This went on until the 9th of September when bulls became so aggressive as to change the direction of the market. However, they could not hold on to their victory for so long. And now, the bears have grown strong enough to face off with the bulls. This might make the price range sideways again.
Apecoin Market Price Statistic:
- APE/USD price now: $5.1390
- APE /USD market cap: $1,576,379,233
- APE /USD circulating supply: 306,875,000.00
- APE /USD total supply: 1,000,000,000
- APE /USD coin market ranking: #36
Key Levels
- Resistance: $5.5000, $6.0000, $6.5000
- Support: $4.5000, $4.00000, $3.50000
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Apecoin Market Price Analysis: The Indicators’ Point of View
Apecoin is losing ground too soon and the bullish momentum is slowing down. The MACD is reflecting this market behaviour. This is evident in the last three faded green histograms. The MACD line should have fallen quickly to cross the signal line, but because of the tug-of-war between the two market players, the line remains fixed at the -0.890 level. The RSI also support this sentiment. It shows the line ranging almost horizontally at 49%.
Apecoin: APE/USD 4-Hour Chart Outlook
The first session of today’s market closed in favour of the bears after which the bulls takes the second session. As a result of this, they have kept the price above the 9-day moving average. However, sellers are still formidable to bring down the price. But currently, the deadlock between buyers and sellers is keeping the market price fixed.
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Source: https://insidebitcoins.com/news/apecoin-price-analysis-for-15th-of-september-ape-usd-is-struggling-to-break-away-from-the-price-support-of-5-0805