- ApeCoin price has jumped by 29% in the last three days.
- The 24-hour trading volume has increased by 47%.
On a wider time frame, the ApeCoin (APE) price has been in a bearish trend and recorded an all-time low of $0.983 on October 11, 2023. Since October, the APE crypto price has been moving with positive momentum, rising by 97% till date. The price has been bullish this month and recently triggered a pullback and jumped by 29% in just 3 days.
According to the technical chart, the APE coin price has witnessed a bullish trend for the last few months and registered a multi-day high of $2.15 yesterday. The price is near the $2 hurdle and seems to face price rejection from this hurdle as it has declined by 9.77% in a day.
The current market price of APE coin is $1.95 which has dropped by 1.86% in the last 24 hours. The market capitalization is $1.17 Billion and the trading volume is $149.57 Million for the past 24 hours.
APE Crypto Price Has Been in a Bullish Trend; Will It Sustain $2 Mark?
In mid-February, the APE price faced resistance from the resistance level of $1.85 and slipped below the 200-Day EMA. But recently, the price made another attempt and surpassed the resistance level and seems to face resistance from the $2 mark.
If the price sustains the $2 level and rises the buyers may become confident and a bullish momentum for the next few weeks can be seen. According to the analysts, if the buyers manage to lift the price to the $2.50 level, a trend reversal could be observed and it may recover the past losses in a few months.
But if the ApeCoin price fails to sustain the $2 mark and slips below the $1.85 level then most of the buyers may face stop losses. During this fall, if the price fails to defend the 200-Day moving average then sellers may dominate, and a sharp fall can be detected.
Technical Analysis of ApeCoin Price On 4-H Timeframe
In a 4-H time frame, the Apecoin price has faced resistance from the $2 level and dropped by 3.49% in just a few hours. This fall could turn into a pullback if the APE crypto price defends the 20-Day moving average. If the price defends the 20-Day EMA and rises to the recent high, then the price may perform positively for the next few days.
On the other hand, if the ApeCoin crypto price fails to defend the 20-Day moving average then it may easily slip to the support level of $1.60. If the price spends some time on the support level and falls then a sharp fall can be seen for a while.
Conclusion
Ape crypto price has been in a bullish trend and is near a multi-day high. It has jumped by 29% in just three days after a pullback highlighting buyers’ domination. RSI is at 69 and heading toward the overbought zone. The APE crypto price is trading over the significant moving average which showcases the bullish trend.
Technical Levels
Resistance: $2.20 & $3.20
Support: $1.60 & $1.30
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.