- APECoin is fluctuating inside a moving parallel channel on the daily price scale.
- The 20 day moving average proved to be short term support for the buyers.
- The APE/BTC pair price is showing an incredible 14% gain on price 0.0003154 Satoshis.
After retracing from its 90-day low, APECoin appears to be slightly bullish. The price of APECoin has reversed its prior downward trend. APECoin’s (APE) price increased by 50% last week, maintaining the $6 support level.
There are rumours of a potential price pullback above the conceptual round level of the $10-resistance level due to rising demand. On the daily price scale, APECoin is varying inside a rising parallel channel.
Last night traders saw a long Doji candle on the daily price scale. The effect on the price is brightening as buyers look aggressive towards the higher zone. Thus APECoin is again trading USDT level at $7.3 at the time of writing. Similarly the APE/BTC pair is showing an incredible 14% gain on price 0.0003154 satoshis.
It looks like buyers may break this horizontal range in near terms as trading volumes are gradually increasing. Thus last night the speculators saw a 42% increase in trading volume in the last 24 hours. Meanwhile, APE Crypto’s market cap has grown 16.5% to $2.2 billion according to CMC.
Minor Drop is Expected Ahead in APECoin price
APECoin price is trading above the mid-band (20 day moving average) of the Bollinger Bands indicator. Buyers may look further back as price struggles near the upper-band of the BB indicator, despite cost trading above the mid-level. However, the Stoch RSI is moving down in terms of the daily price scale.
Conclusion
However buyers today noticed something objectionable. But they cannot ignore that the bears are still active despite APECoin’s recovery. Buyers may reach the $10 conceptual round level by the end of August.
Support level- $5.0 and $4.0
Resistance level- $8.0 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.