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APE is ranging within $5.2 and $4.7 levels
APEUSD Price Analysis – September 06
A breakout at the resistance level of $5.2 will expose APE to $5.9 and $7.5 resistance levels. Below the current price level are found support levels at $4.7, $4.1 and $3.2.
Key Levels:
Resistance levels: $5.2, $5.9, $7.5
Support levels: $4.7, $4.1, $3.2
APE/USD Long-term Trend: Bearish
APE/USD is on the ranging movement in the daily chart. The bulls made an attempt to push the crypto higher last month above the resistance level of $7.5. It closed lower towards the level of $7.0. The price kept falling towards $5.9 support level. The formation of a strong bearish candle broke the support level of $5.9 on 18 August. More pressure from the seller pushed the price downward towards the support level of $4.7. The mentioned level holds and the price is consolidating at moment.
The Relative strength index Period 14 on the daily chart is at 34 level with the signal line flat to the level which indicate that consolidation is in progress. A breakout at the resistance level of $5.2 will expose ApeCoin to $5.9 and $7.5 resistance levels. Below the current price level are found support levels at $4.7, $4.1 and $3.2.
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APE/USD Price Medium-term Trend: Ranging, Tamadoge Jumps Northwards
The ApeCoin is ranging on the medium-term outlook. The price has been moving downward with the formation of more bearish candles, which indicates that bears were in control of the price last three weeks. Looking at the support and resistance levels, the price is currently hovering within the boundaries of the resistance level at $5.2 and the support level at $4.7. It would take a strong directional movement for the price to leave the boundaries. As the current position of the Relative Strength Index period 14 suggests a bearish momentum.
The 9-day EMA is interlocked to the 21-day EMA with the price hovering over the two EMAs, confirming the ranging movement. Should ApeCoin price go up above the resistance level at $5.2 and produce a bullish pattern, then upward movement could be anticipated.
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