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It was in yesterday’s trading session that the price beat the 20-day moving average with a very strong bullish price. The buyers also continue in today’s session to push the price to an upward level. But a source of concern for the Apecoin market is the $4.00 resistance level as there is the fear that the forces of demand may not be strong enough to carry the market beyond the level.
Apecoin Market Price Statistic:
- APE/USD price now: $3.83
- APE/USD market cap: $$1,384,191,730
- APE/USD circulating supply:361,250,000.00
- APE/USD total supply: 1,000,000,000
- APE/USD coin market ranking: #32
Key Levels
- Resistance: $4.000, $4.500, $5.000
- Support: $3.000, $2.500, $2.00
Apecoin Market Price Analysis: The Indicators’ Point of View
The decisive movement of the market in a bullish way makes the Bollinger band contract as bullish pressure matches with the bearish pressure. The direction of the Bollinger indicator has not yet changed to the upside. This according to the RSI indicator, is because the market has not gone too far from the midrange of the market. Buyers need to keep the pressure up. However, at the $4.00 price level, it is likely the bull market faces another strong hindrance. Some traders may be waiting for the price to reach that level and then, they take their profits thereby causing a drawback for the bull market.
APE/USD 4-Hour Chart Outlook
As expected, the bull market is already facing some struggle with the selling pressure as it approaches the resistance. According to this standpoint, the market trend is already bullish. And the price according to the RSI indicator is in the overbought zone. The RSI line is now moving on a horizontal level. The price may hit the $4.000 resistance level in the next session and then retrace a lower level.
The Apecoin market is now taking up a bullish trend after some times with no clear direction for the price. A new platform, now needs to be well-developed to help traders reduce loss. The FTX disaster shows that there is a need for a cutting-edge, innovative platform that can detect disasters that are similar to FTX/FTT, and enable speculators to pinpoint secure trading signals for massive returns. The platform is Dash 2 Trade (D2T), whose presale is currently ongoing. The presale has realized about $7.5 million. D2T affiliate program is also open to all. You can earn your share of the revenue by using the Dash 2 Trade referral links!
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