- APE’s price fails to rally high as the price continues to stall in its price movement despite the market looking green across boards.
- APE’s price continues to trend below key support as the price tries to build more strength to overcome this area of resistance that has held the price from rallying.
- APE’s price remains indecisive on the daily timeframes as the price trades below the 50 and 200 Exponential Moving Averages (EMA).
The price of Apecoin (APE) has failed to rally like other altcoins in the past few weeks as the price continues to stall in its price movement with little hope of a rally to a high of $10 ahead of its anticipated staking. The crypto market has enjoyed a bit of relief across all assets, with Bitcoin (BTC) showing great traction, rallying and dragging the market. Apecoin (APE) has remained relatively slow in recent days as buy orders have become slow due to the price facing resistance to breaking higher. (Data from Binance)
Apecoin (APE) Price Analysis On The Weekly Chart
The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more.
The new week has looked a bit skeptical, but things are beginning to shape up and looking more promising for some altcoins, like BAND, rallying over 100% in less than 24 hours, showing the price action and volume for buy orders. The price of APE has shown little sign of volatility as the price continues to stall in its price movement as the price aims to break out of its shell with a rally imminent.
After dropping from its high of $27 in recent months with so much hype for APE during the sale of “Otherside” metaverse land, the price of APE has failed to show its price action after rallying from a weekly low of $9 to its high, the price of APE has struggled recently to pull off a rally that has left many in euphoria.
The price of APE saw its trade at a low of $3 on the weekly chart; the price swiftly bounced from this region as the price rebounded to a region of $7 as the price found itself trading in a range before the price of APE was rejected to a range bound movement.
Weekly resistance for the price of APE – $7.
Weekly support for the price of APE – $4.5.
Price Analysis Of APE On The Daily (1D) Chart
In the daily timeframe, the price of APE continues to look strong as the price could be set to breakout of its long-range price movement to a high of $7; recapturing the key support of $5.5 would be a good sign for the price of APE and would mean price rallying to a high of $7.
The price of APE trades at $5 above the 50 EMA, which indicates a good relief sign for APE’s price on the daily timeframe could be poised for a major breakout if prices close above $5.5 after facing rejection to trend higher.
Daily resistance for the APE price – $5.5.
Daily support for the APE price – $4.5.
Featured Image From zipmex, Charts From TradingviewCredit: Source link
