APE Price Analysis: Triangle Breakout Eyes 55% Rise in APE
The recent downtrend took a breather at the $5.17 mark and witnessed a consolidation phase coiling the price between the $9.7 and $5.17 support. The Apecoin(APE) revealed a symmetrical triangle pattern in response to this consolidation, putting a recovery opportunity on the cards.
Key points:
- A possible breakout could surge the APE coin by 55%
- The MACD-indicator indicates the possibility of a potential bull run and generates a signal to go bullish.
- The intraday trading volume in Apecoin is $846.5 Million marking a 20% gain.
Source- Tradingview
On April 29, the Apecoin(APE) witnessed an end to the ongoing bull run as it failed to sustain above the $23.76 mark. This dragged the price down to $13.79 before finding temporary support, signifying a 34% drop in just four days.
Interestingly, the APE price saw a sudden surge in the price on May 4, with an intraday gain of 9.98%, indicating an attempt to make up for the recent loss. However, the attempt fizzled out with a recent sell-off in the market, dragging the price further down to $5.17 in a week, which is another 62% drop from the previous support.
Ever since, the coin has been in a correction phase while forming a symmetrical triangle. This phase is an opportunity for the buyers to regain trend control and raise the price.
A breakout from this symmetrical triangle could see the coin rise by 54% to the $13.8 mark.
Conversely, a breakdown would mean a resumption of the prevailing downtrend.
Technical Indicator
The MACD and signal line rising despite consolidation in price action indicate a rise in underlying bullishness. In addition, these lines may soon breach the neutral line, bolstering a triangle breakout.
EMAs- the price consolidation has reclaimed the 20 EMA slope providing an additional edge to long traders. However, the 50 EMA in confluence with the descending trendline strengthens the overhead resistance.
- Resistance levels: $9.57 and $10.6
- Support levels: $7.17 and $5.17
- SEC Chair Paul Atkins Says Crypto Is Top Priority At SEC CFTC Roundtable
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
