ApeCoin is targeting $5.9 resistance level
APEUSD Price Analysis – September 18
A breakup at the resistance level of $5.9 will expose ApeCoin to $7.5 and $8.5 resistance levels. Below the current price level are found support levels at $5.2, $4.7 and $4.1.
Resistance levels: $5.9, $7.5, $8.5
Support levels: $5.2, $4.7, $4.1
APE/USD Long-term Trend: Bullish
ApeCoin is on the bullish movement in the daily chart. The bears could not break down the support level of $4.1 when the price tested the level on September 06. The bulls reacted against the bearish movement and strong daily bullish candle emerges and the price increases to the resistance level of $5.9. The level has been tested twice and pulled back. However, further price increase envisaged.
The Relative strength index Period 14 on the daily chart is at 51 level with the signal line pointing downwards which indicate a bearish signal which may be a pullback. A breakup at the resistance level of $5.9 will expose ApeCoin to $7.5 and $8.5 resistance levels. Below the current price level are found support levels at $5.2, $4.7 and $4.1.
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APE/USD Price Medium-term Trend: Bullish, FOMO on Tamadoge
The ApeCoin is bullish on the medium-term outlook. The price moved downward with the formation of more bearish candles when it was rejected at the resistance level of $5.9. The support level of $4.9 was tested and the price bounced up to retest the resistance level of $5.9. The price is currently pulling back towards $5.2 level.
The 9-day EMA has crossed the 21-day EMA upside with the price trading above the two EMAs, confirming the bullish movement. Should ApeCoin price go up above the resistance level at $5.9 and produce a bullish pattern, then upward movement could continues.
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