APECoin Price Analysis: Resistance still to be broken, do you predict APE to $10 mark?

  • APECoin price appears to be in a bullish trend line above a bullish trend line in the 4-hours reference.
  • APECoin’s market cap fell more than 12.2% to below $1.5 billion in the last 24 hours.
  • In terms of the daily price graph, the RSI indicator found a rejection near the semi-line.

APECoin price is showing a slight upward trend in the lower time frame such as the 4-hours context. Meanwhile, the daily price action is showing a retracement phase from last night on the daily price scale.

Source: APE/USDT by tradingview 

The APE token is appearing above a bullish trend line (white) after reversing from a recent low at $3.0 on the 4-hours chart. The recent bottom was ruined in the significant accumulation zone of buyers and yet they placed their buy order in this area.

Recently the price action broke this support line but the breakout appears to be weak. However, the bulls struggle near $5.0, still valid as a short-term resistance area

Meanwhile, at the time of this writing, APECoin is trading at the $4.7 mark. Due to the decline, APECoin’s market cap fell over 12.2% over the past 24 hours to below $1.5 billion.

Trading volume appears neutral but a retracement phase could replace a downtrend, so buyers will need to consolidate APE token price above the $5.0 resistance level. Moreover, the APE token pairing with the bitcoin pair is trading at 0.000236 satoshis, down 8.6%.

RSI turned its direction

Source: APE/USDT by tradingview 

Despite the retracement phase, the bulls have a key support level with the 20-day SMA (white) forming a move below the current price of APECoin.

On the other hand, the RSI indicator found a rejection near the semi-line in terms of the daily price graph.


APECoin sellers may take support at the 20-day SMA and then the price could aim to retest the conceptual round level of $10.

Support level- $3.0 and $2.5

Resistance level- $5.0 and $10


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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Related Posts

BNB Chain aims to raise 30K new Web3 developers across Latin America in 2022

BNB Chain, a blockchain network created by crypto exchange Binance, and Latin America-focused education platform Platzi announced that they will be launching a Web3 development course for…

Former JPMorgan, Barclays execs on why crypto jobs attractive even in bear market

Despite the ongoing cryptocurrency market decline and associated forced layoffs in major crypto firms, a career in crypto doesn’t turn less attractive to many traditional finance executives….

Aave calls on members to commit to Ethereum PoS chain

Aave token holders have been asked to take part in an Aave Request for Comment (ARC) that would require them to “commit” to Ethereum’s proof-of-stake (PoS) consensus….

Bitcoin price hits multiday low as data warns of ‘overbought’ stocks

Major resistance levels enter for U.S. equities, bringing with them fresh headwinds for crypto as Bitcoin and Ether lose $24,000 and $2,000, respectively. Major resistance levels enter…

USDT market cap up by $2 billion following Tornado Cash debacle

Crypto Currency Why startups are willing to start a crypto exchange like… benlouie Aug 16, 2022 0 30 Knowing the stunning factors of the poloniex clone script,…

Brazil brokerage giant with 3.6M clients launches BTC and ETH trading

Crypto Currency Why startups are willing to start a crypto exchange like… benlouie Aug 16, 2022 0 30 Knowing the stunning factors of the poloniex clone script,…