ApeCoin Price Plunges 36% in a Month - Is A Recovery Possible for APE?

ApeCoin Price Plunges 36% in a Month – Is A Recovery Possible for APE?

Updated: 06 July 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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APE’s had a rough time of late, losing about a third of its value in a month. It’s down almost 8% over the past week and has dipped almost 3% in the past 24 hours.

Is there any hope for the future after a year-long decline that’s seen ApeCoin plunge 60%?

According to the chart below, APE shows a decline in price after reaching the resistance level of $6.3. It formed a Quasimodo pattern, falling to a new lower low below the previous support level of $2.80, which now serves as a resistance level. The Quasimodo pattern looks similar to a shoulder-head-shoulder pattern and indicates a fall in price.

Ape’s Quasimodo Pattern Shows Bearish Sentiment

APEUSD Chart Analysis. 7/6/2023 — APEUSD Chart Analysis. Source: Tradingview.com

The price is undergoing consolidation, indicating that bulls may have an opportunity to drive prices up again. If this is successful, it will encounter a resistance level of $4.7.

However, any journey up for APE is fraught with challenges. Investors must bear this in mind and look to secure profits at strategic levels.

APE Price Displays Bearish Indicators

APE/USD Indicator Analysis 7/6/2023 — APEUSD Indicator Analysis. Source: Tradingview.com

According to the chart above, the price of APE is trading below the 50-day and 200-day moving averages, demonstrating a bearish trend. Additionally, the 50-day moving average crosses the 200-day moving average at the $4.7 level, confirming that bears are on course to pull the price further down. The 50-day and 200-day moving averages act as resistance points.

If the bulls are to be successful, they have to push the price above the moving averages. But even then ApeCoin will encounter a hurdle at the $2.80 resistance level after breaking above the 50-day moving average. Overcoming this hurdle will bring the altcoin face to face with the 200-day and 20-week Exponential Moving Averages, attracting bullish momentum and pushing the price closer to the resistance level of $4.7. The relative strength index trades below the neutral position of 50 at 39, suggesting a bearish trend.

The bottom line: ApeCoin’s price is in bearish mode, indicating that investors may be better off looking for other opportunities. One possibility is yPredict, which is showing bullish sentiment in its ongoing presale, attracting investors who are search for higher returns. Here is why:

yPredict: Empowering Traders with Data-Driven Insights and Analytics

yPredict is a comprehensive ecosystem that brings together traders, financial quants, and AI/ML experts, enabling them to leverage cutting-edge technology and alternate data for making informed trading decisions.

The ecosystem offers a range of platforms and tools that provide valuable insights and analytics using state-of-the-art financial prediction methods and metrics.

📣 yPredict Unveils Revolutionary AI-Driven Backlink Model, Disrupting Crypto and Marketing Sectors!

🚀 Witness the power of AI and blockchain technology with yPredict, as they launch their game-changing backlink model. This cutting-edge solution has the potential to skyrocket… pic.twitter.com/4hJYiw6qUP

— yPredict.ai (@yPredict_ai) July 4, 2023

yPredict aims to simplify access to data-driven insights and proven analytical metrics, recognizing the inherent complexity of the financial market. Doing so empowers users to navigate the complexities of the market and make informed decisions with greater confidence.

One of the critical features of the yPredict ecosystem is the prediction marketplace. In this marketplace, financial data scientists offer the signals and results of their predictive models.

This creates a collaborative environment where experts can monetize their expertise, and investors benefit from accurate predictions.

yPredict Surpasses Presale Fundraising Goal, Secures $2.78 Million

yPredict has achieved remarkable success in its presale stage, raising an impressive $2.78 million to fuel the development of its ecosystem. Central to all activities and transactions within the platform, the native token, $YPRED, holds a pivotal role.

Each $YPRED token is valued at $0.09 during the presale stage. As the project progresses to the next phase, the token price will rise to $0.1.

Once the $YPRED tokens are launched on various exchanges, their value is expected to rise further to $0.12. This presents a unique opportunity for investors to engage with the yPredict project during its presale stage.

By acquiring $YPRED tokens now, investors can benefit from the potential future growth of the ecosystem and actively contribute to shaping the project’s trajectory and overall success. By connecting their wallets to the token website, investors will be able to acquire YPRED tokens by making swaps for ETH, MATIC, USDT or buying directly with bank CARD