APE price consolidates after the previous session’s sell-off. Furthermore, the price still holds above the crucial $12.0 mark, which hints at the underlying bullish current at the APE price.
- APE price tests swing highs at $12.88 on Wednesday.
- On the 4-hour chart, APE forms a bullish rounded bottom pattern signaling more gains toward $14.50.
- RSI favors the bullish outlook in the coin.
APE price ready to jump
APE price for the past four-session is hovering in a range of $12.80 and $11.50 after surging 40% from the lows of $9.25. However, currently, the price is facing some upside resistance near $12.30, a critical support-turned-resistance level. The APE price must trade above the upper boundary of the mentioned trading range to maintain the upside momentum.
A strong buying pressure with good trading volumes will first test the immediate upside target at $13.35 as there is no stoppage in between.
Furthermore, bulls will flex their muscles to test the highs of March 19 at $14.50.
On the contrary, if the price fails to sustain the session’s low then it would meet the downside target placed at $10.58. A spike in sell order might trigger another round of selling toward the horizontal support level at $9.82.
Trending Stories
The APE price tested record high at $18.20 on March 18. Since then, the price depreciated nearly 60% to $9.25. The selling intensified as it broke the $12.30 mark. The price formed a ‘rounded bottom’ formation with the recent swing highs of $12.88. A rounded bottom is a bullish reversal pattern, which is formed as the downside pressures comes to exhaustion.
As of press time, APE/USD is trading at $12.82, up 3.32% for the day. The 24-hour trading volume is holding at $982,789,747 as per the CoinMarketCap.
Technical indicators:
RSI: The 4-hour Relative Strength Index falls below the average line with a bearish bias. The current reading is at 54, which indicates profit booking can be expected.
OBV: The On-Balance-Volume consolidates stands near the overbought zone that coincides with the levels last seen on March 18.
MACD: The Moving Average Convergence Divergence is expected to move below the midline as bearish momentum gains.
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- Just-In: PlanB Reveals Bitcoin S2F Prediction For 2024 Halving
- Heavy Outflows Force Investors to Seek Refuge In Multi-crypto Investment Products
- PlanB: When Will Bitcoin (BTC) Price Cross $500K?
- Case Study: P2E Gaming Projects Tackling The Barriers To Web3 Mass Adoption
- Just-In: Indian Central Bank Head Bashes Crypto After Latest Crash
- This Top Crypto Exchange Offers To Support Burning Terra (LUNA)
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
