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The ApeCoin price plunged over 15% in the last 24 hours to trade at $1.29 as of 11:28 p.m. EST.
Despite the sharp 24-hour correction, the APE price is still up 73% in the past week.
The ApeCoin Price Resting On A Key Support
4-hour chart for APE/USDT (Source: TradingView)
The ApeCoin price dropped below the $1.410 support level in the last 24 hours and is currently resting on the technical safety net at $1.267. Should the meme coin lose the support of the $1.267 mark, it could stand the risk of plummeting all the way down to $1.069 in the short term.
On the other hand, the ApeCoin price managing to stay above the $1.267 mark for the next 12 hours could invalidate the bearish thesis. In this more bullish scenario, APE might rebound and attempt to reclaim the $1.410 support.
A 4-hour candle close higher than $1.410 could then give the ApeCoin price the foundation needed to overcome the $1.548 barrier and potentially rise to as high as $1.726.
The ApeCoin Price Could Fall Some More In The Coming 24 Hours
From a technical standpoint, indicators on APE’s 4-hour chart are flashing bearish after major technical flags were triggered by both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators throughout the past day of trading.
The ApeCoin price seems to have entered into a negative trend, with the MACD line crossing below the MACD Signal line in the last 24 hours. Following the intersection between these two technical indicators, the gap between them continues to grow. Traders might see this as an indication that APE’s bearish momentum is picking up steam.
Meanwhile, the RSI dived below its Simple Moving Average (SMA) line to suggest that sellers took over control of the ApeCoin price from buyers. Although the RSI is positioned above the 50 benchmark to indicate that there is still some bullish strength present, the negative slope of the RSI line warns that bulls could be completely wiped out in the coming 24 hours.
As traders sell their APE, popular YouTuber ClayBro, with 130k subscribers, says the presale for meme coin rival Crypto All-Stars (STARS) has the potential to soar 50X after launch.
A Single Platform For Investors To Stake Meme Coins
Crypto All-Stars (STARS) seeks to give meme coin backers a single platform to grow their bags passively without having to rely on hype or FOMO. Through the project’s innovative MemeVault offering, meme coin fans can lock up a variety of tokens for competitive staking rewards.
Already-supported meme coins include DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO, with more options scheduled to be added in the coming weeks.
All meme coins staked on the MemeVault will generate crypto rewards that are paid out in STARS, the project’s native token. The advantage of receiving rewards in STARS is that these tokens can also be staked, opening up the opportunity for investors to generate compounded returns.
Any investors who lock up STARS now stand to earn up to 579% in annual rewards.
An Investor Frenzy Erupts Around STARS As Its Presale Charges Towards $3 Million
Investors are FOMO buying STARS during its ongoing ICO stage, with the project already raising over $2.6 million. Included in this impressive raise is purchases from whales, signaling strong investor confidence in the project’s future.
Selling for $0.0015188, the meme coin can be bought with either ETH, USDT, BNB, DOGE, SHIB, PEPE, FLOKI or bank card.
Once purchased, the newly-acquired STARS can be locked up through the staking page on the website for investors to start earning the 579% APY.
Anyone looking to buy the token at the best rate will want to act fast because its price is set to increase with each new stage of its presale. The next price adjustment is happening in about 2 days.
Purchase and stake STARS here for the 579% APY before its price increases.
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