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- Apecoin Price Prediction is turning bullish and suggests a significant increase is possible in coming months.
- APE Price defends $2.00 and is racing toward the 50 day EMA.
- Apecoin Price trading below the 50 and 20 day EMA showcase downtrend.
Apecoin Price Prediction suggests a rise and significant increase is possible if the certain conditions are met. APE Price defended $2.00 and showed a decent bounce from lower levels.
Apecoin crypto witnessed a sudden rise in the buying volume and prices also followed the upward direction. It indicates that big players might have accumulated at lower levels and expected the prices to perform well.
Apecoin Price is trying to climb above the 50 day EMA to turn the short term trend in the favor of bulls. However, the downward sloping trendline placed near to EMA will act as an immediate hurdle for bulls.
From the past few months, Apecoin Price is in downtrend and declining by forming lower low swings. The downfall halted near $2.00 and prices entered into consolidation.
Recently, Apecoin Price rises with a strong momentum indicates that bulls are getting active and confidence is visible.
Apecoin Price is trading at $2.092 with an intraday rise of 3.82%. The 24 hour volume to market cap is 19.46%.
The APE/BTC pair is trading at 0.00006678 with an intraday rise of 4.39%. Well, sellers seem to be more active in the APE/BTC pair as compared to the APE/USDT pair.
Bullish trend reversal possible in Apecoin Price?
Apecoin Price consolidated for a few weeks in the narrow range between $1.800 to $2.500. It formed a strong base before showing an up move which increases the probability of continuing the upward momentum.
Till APE Price is sustaining above the$2.00 level the possibility of reaching the 50 day EMA remains high. The Prices will pick up the momentum when buyers are able to break out the trendline hurdle.
The confirmation of short term bullish trend reversal will be visible when prices will sustain above the $2.500 hurdle. The technical analysis suggests, Apecoin Price is in the initial phase of trend reversal and more recovery is pending.
APE Price prepares to break the higher range
APE Price prepares to come out of the consolidation phase. It formed a bullish hammer candle on the weekly time frame indicating initial signs of trend reversal. Well, until the buyers give the follow up momentum the confirmation will not come.
The MACD curve is rising upward and the histogram bar is also green indicating bullishness. The RSI at 46 pointing north denotes strength and is likely to reach neutral territory.
Conclusion
Apecoin Price Prediction is turning bullish and suggests a rise in the long run. But the price will pick up momentum only above $2.500 level. The technical analysis suggests, APE Price is in the initial phase of trend reversal and downside risk is low.
Technical levels
Resistance levels: $3.000 and $3.500
Support levels: $1.845 and $1.500
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
