APE/USD Trades Near $5.0 Resistance

The ApeCoin price prediction may lack short-term and medium-term support, but if the price rises further, the coin is likely to face the upside.

ApeCoin Prediction Statistics Data:

• ApeCoin price now – $4.87
• ApeCoin market cap – $1.76 billion
• ApeCoin circulating supply – 361.25 million
• ApeCoin Coinmarketcap ranking – #28

APE/USD Market

Key Levels:

Resistance levels: $6.0, $6.2, $6.4

Support levels: $4.0, $3.8, $3.6

APE/USD is currently trading around the $4.87 level above the 9-day and 21-day moving averages. In the range of the ascending channel, the closest resistance could be located at $5.0, with a close resistance at $0.55. Meanwhile, if the market increases, additional resistance can be found above the upper boundary of the channel.

ApeCoin Price Analysis: ApeCoin (APE) May Go Bullish

As revealed by the daily chart, it is obvious that the ApeCoin price may likely create more bullish trends once the sideways movement fades away, and this is noticeable for the technical indicator Relative Strength Index (14) as the signal line moves within the overbought region.

At the time of writing, the ApeCoin market keeps rebounding from the daily low of $4.71; meanwhile, any bearish movement below the daily low could lead the coin to a serious downtrend towards the lower boundary of the channel. However, the support levels for the coin may be located at $4.0, $3.8, and $3.6, while the resistance levels lie at $6.0, $6.2, and $6.4 respectively.

Against Bitcoin, the support level of this range is built around 2500 SAT. The resistance is set at 3000 SAT because the market price is still hovering above the 9-day and 21-day moving averages. Technically, the price continues to follow the bullish movement since a few days ago as the technical indicator Relative Strength Index (14) remains within the overbought region.

However, if the ApeCoin price crosses below the 9-day moving average, APE/BTC may likely hit the support level AT 2500 SAT and below. Moreover, any bullish cross above the upper boundary of the channel may allow the market to form a new upward trend and could reach the potential resistance at 3200 SAT and above.

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