ApeCoin Price Analysis: Will APE maintain above $5.10


  • APE fall -5.47% in seven days.
  • APE’s intraday volume stands at $137,215,649.00.
  • ApeCoin has a medium term resistance at $6.08.
  • APE/USD pair trading below EMA(20).

03 October 2022 : In this article we will walk you through ApeCoin price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for ApeCoin, Is APE a good investment? ApeCoin support & resistance levels etc. But before diving deep into the APE technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,932,453,244. The total trading volume stands at $55,487,317,888. Bitcoin shares 39.83 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,585.87 level after an upward movement of 2.11%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.39 percent reaching to $1,325.49 during the previous 24 hours.
While publishing this blog, BNB traded at $288.43, following a price change of 1.88% within the same time frame. XRP the native coin of XRP is down by -0.31 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.57% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

ApeCoin Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of ApeCoin (APE)

APE Resistance Levels APE Support Levels
Resistance Level 1 $5.73 Support Level 1 $5.10
Resistance Level 2 $6.08 Support Level 2 $4.83
Resistance Level 3 $6.35 Support Level 3 $4.47

ApeCoin Performance

The price of ApeCoin (APE) is at $5.17, up 1.05% in the past 24-hours and has a price change of -5.47% over the week. One day trading volume for BTC is 137,215,649.00 USD while total marketcap reached $1,586,665,661.00 USD. There are almost 306,875,000 are in circulation out of 1000000000.

ApeCoin Price Analysis

APE price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the ApeCoin.

Moving Averages Price Indicator
Simple Moving Average (10) 5.44 Sell
Exponential Moving Average (10) 5.41 Sell
Simple Moving Average (20) 5.41 Sell
Exponential Moving Average (20) 5.39 Sell
Simple Moving Average (50) 5.29 Sell
Exponential Moving Average (50) 5.29 Sell

The MACD line is standing below of the signal line after a crossover. ApeCoin investors need to wait for any directional change over the daily chart. The relative Strength Index (RSI) indicates that the APE coin is in heading towards overbought zone, as RSI is at 53. While APE’s Williams %R indicator is at -79.287 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. In accordance with the conventional pivot, the crucial immediate resistance for APE may be found at $5.73, followed by $6.08. In the meantime, the cryptocurrency's support levels were located at $5.10 and then $4.83.

Conclusions

From the technical analysis, the overall trend of the ApeCoin is still bearish; however, the price action might shows an attempt a bullish reversal with its bullish engulfing candle pattern. Therefore, if APE manages to stay above $5.10, it can provide an excellent long opportunity for APE communnity.