Price Analysis

Apecoin Price Analysis: Rising Supply Pressure May Tumble APE By 17%

The multiple failed attempts from APE buyers to overcome the $7.23 barriers indicate high supply pressure above; should coin holder worry?
Published by
Apecoin Price Analysis: Rising Supply Pressure May Tumble APE By 17%

The ongoing recovery rally in APE price stalled at $7.23 resistance. Despite showcasing several attempts to breach this barrier, the buyers couldn’t surpass the $7.23 mark in the past four days. Even today, the coin price is 3.75% up, but the long rejection attached to it indicates another failed attempt from buyers.

Advertisement

Key points: 

  • The $7.23 breakout would trigger a directional rally in APE
  • A breakdown below $5.52 would imply weakness in buyers’ commitment
  • The intraday trading volume in the APE is $575.5 Million, indicating a 53.4% gain

Source- Tradingview

The APE/USDT downfall took a complete turnaround after the price hit a $3.09 low. Amidst the improving market sentiment, the price action knocked out multiple resistance levels and showed a constant rally since last month.

On July 28, the bull-run tagged the $7.23 mark, registering a 138% growth since the mentioned low. However, the APE price showed several attempts to breach the overhead resistance, but all ended with long-wick rejection candles. 

These failed trials hint the bullish momentum is exhausted, and the price may witness a significant correction before resuming the recovery rally. Furthermore, the price action shows a minor support level at the $6.63 mark, indicating a narrow consolidation.

Therefore, the daily candlestick closing beyond either barrier of the constitution will determine further movement in APE price.

Thus, if the sellers pull the altcoin below the $6.63 support, the traders may witness a 17% correction to the $5.52 support. However, losing this support would indicate weakness in bullish momentum, leading to further downfall to the $4.14 mark.

On the other hand, a candle closing above the $7.23 resistance will offer another breakout opportunity to buyers with a 26.7% higher target of $9.18. 

Advertisement

Technical indicator

EMAs- The downsloping 100 DMA line is nearing to APE price would add additional selling pressure on traders. On the flip side, the short-term recovery is led by the dynamic support of the 20 DMA.

RSI indicator– a slight bearish divergence in RSI slope concerning the new higher high in price supports the pullback theory. 

  • Resistance levels- $7.23 and $8
  • Support levels- $6.63 and $5.2
Advertisement

Share
Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout

Cardano price continues to draw fresh attention as the market shows signs of renewed strength.…

October 2, 2025
  • Price Analysis

BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes

BONK price has drawn attention once again as its chart structure hints at renewed interest…

October 1, 2025
  • Price Analysis

Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth

Shiba Inu price has crashed in the past few months, moving from a high of…

October 1, 2025
  • Price Analysis

XRP Price Prediction After Ripple CTO David Schwartz Resigns

XRP price has shown renewed strength in the last 24 hours, recording a modest daily…

October 1, 2025
  • Price Analysis

SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism

SUI price has once again found strength at its ascending support, creating expectations for another…

October 1, 2025
  • Price Analysis

Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?

Chainlink price has attracted fresh attention after recent analyst insights highlighted key technical patterns. The…

September 30, 2025