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The ApeCoin price prediction shows that APE could renew the bullish trend after testing the support level of $0.59 today.
ApeCoin Prediction Statistics Data:
- ApeCoin price now – $0.61
- ApeCoin market cap – $368.3 million
- ApeCoin circulating supply – 604.8 million
- ApeCoin total supply – 1 billion
- ApeCoin Coinmarketcap ranking – #136
It’s often recommended to get involved with crypto projects as early as possible to maximize potential gains. For example, the ApeCoin we’re considering has seen significant price movements since its all-time low. Just 10 days ago, on August 5, 2024, the token hit an all-time low of $0.4826. Since then, it has risen by 22.21%, reaching a high of $0.6094 in the last 24 hours. While this is still far below its all-time high of $39.40, recorded on March 17, 2022, the recent upward trend suggests that the token might be on the path to recovery.
APE/USD Market
Key Levels:
Resistance levels: $0.90, $1.00, $1.10
Support levels: $0.35, $0.25, $0.15
APE/USD now faces a critical resistance level formed by a downtrend line that has repeatedly rejected the price movement in the past. However, a recent attempt to break through this resistance resulted in a temporary breakout, but the price was ultimately pushed back down, indicating the strength of this resistance. Moreover, the current price movement is once again testing this resistance level, making it a key area to watch.
ApeCoin Price Prediction: APE/USD Could Move Sideways
According to the daily chart, the ApeCoin price is moving towards the resistance level of $0.20 as the initial move toward the channel’s upper boundary could boost the price further. Meanwhile, the intersection of the downtrend resistance and the upper boundary of the channel near $0.70 is a significant price point. This level not only represents technical resistance but also coincides with a long-term resistance level that was previously supported. Breaking through this barrier could lead to a major price movement.
However, with the price squeeze within the 9-day and 21-day moving average intensifying, the likelihood of a breakout is increasing. If ApeCoin successfully breaks out of the channel, the potential resistance levels are likely to be located at $0.90, $1.00, and $1.10, which would represent a substantial upside from the current levels. Traders should be prepared for this potential move, while a drop below the lower boundary of the channel may lead to supports of $0.35, $0.25, and $0.15 respectively.
APE/BTC Faces the South
Against Bitcoin, the ApeCoin is seen moving bearishly, aiming to cross below the 9-day moving average. Any further bearish movement could lead the coin to the nearest support at 900 SAT, after which it could hit the critical support at 760 SAT and below.
Nevertheless, should the buyers return to the market, the ApeCoin price could make a bullish cross above the upper boundary of the channel to hit the resistance level of 1300 SAT and above. Additionally, the 9-day MA may also need to cross above the 21-day MA to increase the bullish movement.
Moreover, @ChartMonkeyBTC shared an analysis with his followers on X (formerly Twitter), highlighting a bullish momentum for ApeCoin following a breakout from a falling wedge pattern. The breakout was accompanied by a failed supply test and a narrowing spread. The Fibonacci levels offered an attractive opportunity, leading to an entry at .596 with a 1K position.
📈LONG: #APEUSDT $APE by @jalapablo@apecoin APE Swing After FW Breakout: Bullish momentum as Ape Coin breaks north from falling wedge with failed supply test & narrowing spread. Fibonacci ladder up from .596 entry at 1K was too irresistible. pic.twitter.com/XRv7MYkmB2
— Crypto | ChartMonkey (@ChartMonkeyBTC) August 12, 2024
Alternatives to ApeCoin
At the time of writing, ApeCoin’s price is recovering toward the resistance level of $0.62. A bullish breakout above the 21-day moving average could propel the price to the next resistance level of $0.70. However, additional resistance levels may come into play if the bulls regain market control. Both ApeCoin (APE) and PlayDoge ($PLAY) present attractive opportunities in the cryptocurrency sector. At present, PlayDoge is best described as a meme coin, given its thematic connection to Dogecoin and meme culture. However, the project is positioning itself as a play-to-earn (P2E) Doge companion game gaining over $6 million in its ongoing presale.
WILL PLAYDOGE PUMP AFTER LAUNCH
Investing in PlayDoge presents a unique opportunity, especially as it transitions from a meme coin to a play-to-earn Doge companion game. With its ongoing presale offering 50% of the token supply at an early stage, investors can secure their position before the project fully launches.
Related News
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- Crypto Analyst Bullish on PlayDoge Presale as the Best Crypto to Invest In Right Now
PlayDoge (PLAY) - Newest Launch On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited - playdoge.io
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