ApeCoin Price Prediction: Will APE rebounds above $5.00 ?
- ApeCoin was trading at $4.39 with an increase of 0.29% during the intraday trading session at press time.
- The 24-hour low of APE was $4.21 and the 24-hour high of APE was $4.66.
- The current ApeCoin token price is above 20, 50, 100, and 200-Day EMA.
The pair of APE/BTC was trading at $0.0001767 BTC with a dip of 1.86% over the intraday trading session.
ApeCoin price prediction suggests it is currently in an uptrend after testing its primary support at $3.342.The formation of the Spinning top candlestick pattern in the last trading session indicates that both bulls and bears were active in the market, the bulls were driving the price up which can be seen by the long upper shadow, while the bears were driving the price down, which is indicated by the long lower shadow.
After the start of 2023, the APE coin was moving upwards with the support of buyers breaking its primary and secondary resistance on its way up. But as soon as the APE coin breached its secondary resistance of $6.018 sellers became hyperactive in the market pushing the token below its primary resistance of $4.523 which made its previous breakout a false breakout.
The coin’s volume has increased by 33.80% in the last 24 hours. The increase in volume indicates that the number of buyers has increased. This shows that buyers are trying their best and there is a relationship between volume and the price of APE, which represents strength in the current bullish phase.
What does the Technical analysis say?
Technical Indicators show that the RSI has increased in the oversold zone and is showing a positive crossover which indicates that the buyers are coming in the majority and pushing APE upwards. This suggests the strength of the current bullish trend. The current value of RSI is 42.01 which is above the average RSI value of 38.01.
The MACD and the signal line are increasing and showing signs of positive crossover over the daily chart which can support the RSI claims. Investors need to watch every move over the charts during the day’s trading session.
ApeCoin price prediction suggests that it is currently in an uptrend after the formation of a spinning top candlestick pattern over the daily trading chart. Since the start of 2023, APE has been trying to get stability in the market with the support of bulls. The increase in volume shows positive market sentiment towards the APE coin.RSI has increased in the oversold zone and is showing a positive crossover which shows strength in the current bullish trend, as per technical indicators. This provides good opportunities for long traders.