ApeCoin Price Prediction: APE Price Attempts Weekly Highs Above $18.0

25 Apr, 2022

Editor

Expertise : Cryptocurrency & Blockchain, Finance, Forex

Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.

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APE price continues to extend gains after moving beyond the crucial support near $12.90 on April 20. The price found reliable support around the stated level. The bullish formation on the daily chart suggests the continuation of the trend.

APE price gains for the fourth straight session as the fresh trading week begins.
Investors can expect record highs above $18.0 amid sustained buying momentum.
However, a breakdown of the $16.0 support level would invalidate the bullish theory.

As of writing, APE/USD is trading at $17.84, up 3.84% for the day. The 24-hour trading volume of the cryptocurrency is holding at $1,821,410,366 as updated by the CoinMarketCap.

APE price continues to move north

On the daily chart, the APE price surged 66% after testing the swing lows at $10.92 on April 18. The price has shown a considerable gain in its buying pressure since it retraced from the recent highs of $18.20. The current upswing pushed APE price toward a confluence zone, which if broken could result in fresh gains in the asset.

Now, the price consolidates near the weekly resistance playing around $17.80, a sustained buying momentum could push the price higher to recapture the highs on April 23 at $18.32.

An acceptance above the mentioned level would bring $20.0 on the board.

On the flip side, a break below the session’s low would invalidate the bullish arguments for the price. In this scenario, the sellers would drag APE to the lows of April 23 at $15.17.

In addition to that, a continuation of the upside pressure would open the gates for $14.0.

Technical indicators:

RSI: The relative strength index traded above the average line since April 18. Currently, it reads at 68.

OBV: The on-balance volume indicator suggests the demand side increase in the price.

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.

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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.