- Despite weakness in the entire crypto market, APEcoin outlook is up 1.4% in the last 24 hours.
- On June 15, APE sellers noted an 80-day low at the $3.06 mark.
- APECoin price is retesting the 20 day exponential moving average in the context of the 4-hours price chart.
APECoin price appears to be in recovery mode on the 4-hours price chart. However, the APE token has been underperforming since the beginning of May, where the bulls failed to break past it’s all-time highs.
Despite weakness in the entire crypto market, APEcoin outlook is up 1.4% in the last 24 hours. Meanwhile, at the time of this writing, APECoin is trading at the $3.61 mark.
In terms of the 4-price chart, on June 15, APE sellers noted an 80-day low at the $3.06 mark, which so far seemed to act as a support level. During recovery, APECoin price action makes a low-high retesting the 20-day exponential moving average in the context of the 4-hours price chart.
The bulls are struggling near the 20 EMA and if buyers manage the altcoin above it then the 50-EMA will be the next bullish barrier. Meanwhile APECoin’s market cap also rose 1.6% to $1.05 billion in the last 24 hours.
Similar to the Bitcoin pair, USDT pair, APEcoin is trading up 1.45% at 0.0001707 satoshis.
Finally Stoch RSI shows a trend reversal sign
On the other hand, the 60-day low is an important defense zone for the bulls, a previous swing high at $4.3 could influence the bullish trend.
On higher time frames such as 4-hours and above, the Stoch RSI is trending higher and diving into the oversold zone. On the other hand, the ADX indicator is showing a bullish momentum for APECoin in terms of the daily price scale.
Conclusion
APECoin shows some bullish strength after a sharp decline, with bulls managing the price well above its 60-day low.
Support level- $3.0 and $2.5
Resistance level- $5.0 and $10
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.