ApeCoin Price Analysis: APE Cryptocurrency Keep on Fighting for its Existence, When will it STOP?

• ApeCoin price struggles at the lower level as BTC rallied till $18500 affecting other cryptocurrencies, APE is also having a hard time to settle.
• APE Crypto is trading below 20, 50, and 100-days Daily Moving Average.
• The pair of APE/BTC is at 0.002263 BTC with an intraday drop of 5.27%.

ApeCoin price is currently trading with downtrend momentum after going through some interesting patterns over the daily chart. However, APE crypto falters to gather support right now as it is trading at lower level and is heading towards its all time low. APE crypto needs to reverse the momentum and to achieve the goal it must acquire more buyers in order to oppose the sellers and avoid being caught in the short-sellers’ clutch. APE coin price must attract more buyers as it needs to surge back towards the upper range. APE investors need to wait for any directional change over the daily chart.

ApeCoin’s estimated worth is $4.24 at the moment, down 10.73% from the previous day’s market capitalization. Comparatively, the intraday trading session’s trade volume has grown by 62.26%. This shows that buyers are trying to expand positions in the transaction to prevent APE from dropping below the parallel channel. Volume to market cap ratio is 0.1338.

The APE coin price is in a steep fall on the daily price chart. For the token to move through the parallel channel, more purchasers are required. Volume change, which is now below normal, must increase for APE currency to once again soar over the channel. Investors in the APE coin must wait for any directional change before assessing the price movement of the APE coin.

What do Technical Indicators suggest about APE?

For the price of APE coin to skyrocket back toward the parallel channel, more buyers are needed. While they wait for the token to throttle hard and shoot back into the pattern, APE bulls must gather their strength. Technical indicators illustrate the downtrend’s momentum for the APE currency.

The Relative Strength Index depicts the APE coin’s slowing velocity. At 27, the RSI is approaching the farthest oversold region. The APE coin’s declining velocity is visible on the MACD. Between the MACD and signal lines, there has been a negative crossover. Investors in APEs should watch the daily chart for any changes in trend.

Conclusion

ApeCoin price is currently trading with downtrend momentum after going through some interesting patterns over the daily chart. However, APE crypto falters to gather support right now as it is trading at lower level and is heading towards its all time low. APE crypto needs to reverse the momentum and to achieve the goal it must acquire more buyers in order to oppose the sellers and avoid being caught in the short-sellers’ clutch. Volume change, which is now below normal, must increase for APE currency to once again soar over the channel. Technical indicators illustrate the downtrend’s momentum for the APE currency.

Technical Levels

Support Levels: $3.95 and $3.00

Resistance Levels: $4.90 and $5.50

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.  

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