- ApeCoin has an open interest of $72 Million and it has increased by 2.67%.
- ApeCoin price is reversed after hitting the support.
- ApeCoin (APE) is ranked #84 as per the market cap by the CoinMarketCap.
ApeCoin serves as an ERC-20 token for governance and utility purposes within the APE ecosystem. Its primary function is to empower and provide incentives for a decentralized community actively engaged in advancing Web3 technologies.
Financial Data of ApeCoin (APE)
ApeCoin (APE) is currently experiencing an upward momentum with its price forming a higher pattern. The coin is exhibiting a robust bullish pattern, showcasing a reversal after reaching a support level.
According to the technical indicator summary on TradingView, APE is signaling a buy recommendation. Out of the 26 indicators, the majority are giving a buy signal, with only a few indicating bearish sentiment. The moving averages summary also supports a buy signal. It is ranked at #84 by market capitalization on CoinMarketCap and ApeCoin holds a significant position in the market.
The open interest for APE is currently $72 Million, showing a 2.76% increase in today’s market session. This rising open interest indicates positive performance, suggesting a potential price increase in the upcoming days. The increasing open interest also signifies growing interest from buyers looking to establish new positions.
Although APE has been following a falling wedge pattern, there has been a recent breakout from this pattern, leading to an upward movement. The overall structure of the coin appears positive, indicating the likelihood of a price rise in the coming days.
ApeCoin (APE) Technical Analysis
The RSI line for ApeCoin (APE) is currently at the 38 level while the SMA line is positioned at 31. With the RSI surpassing the SMA line, it is interpreted as a positive indication, suggesting a potential increase in the price in the future.
Furthermore, the MACD line for ApeCoin is trading above the signal line, accompanied by the formation of a green histogram on the charts. This configuration is a positive signal, indicating a likely price rise in the upcoming days.
Conclusion
In conclusion, the APE coin is moving upward, the price has shown a breakout from the wedge pattern. The overall pattern of the coin is positive and the indicators are also giving a positive signal. Hence, the price is expected to rise in the upcoming days.
Technical Levels
- Support Levels: $1.02 and $0.8
- Resistance Levels: $1.75 and $2.3
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.