Apecoin Price Prediction: APE Plunges 14% – Monkeys Joining the Party?

Updated: 18 August 2023

Disclosure

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.

Join Our Telegram channel to stay up to date on breaking news coverage

The Apecoin price hit its all-time low as part of the crypto industry’s newest bearish wave.

The token has dropped sharply throughout 2023 since it hit its 12-month high on January 28. APE finally found stability at $1.8 in early August, and its price rose.

The surge started around August 10, and by August 14, APE was back above $2. However, after it hit $2.1, its price started to correct. This correction turned to a sharp drop late on August 14, when the price went from $2 to under $1.8 again.

This level then served as a resistance, not allowing the token to go further up and even briefly rejecting its price to $1.7 on August 16.

The token recovered back to $1.8 on August 17, only to be stopped again, and eventually, it saw an 11% crash by the end of the day.

Since then, the token has mostly stabilized above the support at $1.5. However, the new drop marks Apecoin’s lowest point in its history.

As of August 18, its new all-time low is at $1.49. The token recovered slightly after reaching this low point, climbing to $1.6, before dropping to $1.57 once more, where it sits at the time of writing.

Is recovery possible?

The crypto market is trading mostly in the red after Bitcoin crashed by several thousands of dollars in the last 24 hours.

The drop is believed to have been caused by SpaceX’s sale of its entire Bitcoin stock. However, many believe that the coin’s prolonged sideways trading session finally ended, and this is the result.

As for Apecoin, some analysts believe that the selloff is still not over. They noted that some long-term holders abandoned the token in the last few months.

Some more optimistic holders may have kept their tokens so far, but the new drop to an all-time low might trigger a new wave of sales.

Other analysts believe an uptrend is coming soon, as the downtrend is slowing down.

These traders and analysts started opening long positions and decided to add up if the price fell further. One of them shared that they placed stop-loss at $0.85, while take profits are at $2.45, $3.84, and $6.20.

yPredict offers an alternative to buying the dip

Many in the crypto industry seek to profit by buying the dip, meaning they invest when the price hits bottom, then wait for it to recover to sell and profit.

Others, who do not like taking risks, look for safer opportunities, such as buying tokens in the middle of a presale.

yPredict (YPRED) is one such cryptocurrency and a huge opportunity these days. The token’s presale price is only $0.1, while its listing price will be $0.12.

The token is also immune to volatility during the presale, so buying it now guarantees a higher launch price. As for where the price might go after launch, that remains to be seen.

YPRED has already raised $3.5 million and is moving toward its $4.5 million goal. This is a new native token of the yPredict platform, which seeks to use AI to offer trade signals and analyses.

Thanks to artificial intelligence, it can collect and process data much faster than a human and then present the state of the market and its view on what might happen next.

Anyone interested in buying the token during the ongoing presale can do so with BNB, ETH, MATIC, USDT, or their credit card.

Smog (SMOG) - Meme Coin With Rewards

Rating