{"id":415835,"date":"2023-07-06T16:23:32","date_gmt":"2023-07-06T16:23:32","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=415835"},"modified":"2023-07-06T20:32:00","modified_gmt":"2023-07-06T20:32:00","slug":"ape-plunges-36-in-a-month-is-recovery-around-the-corner","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ape-plunges-36-in-a-month-is-recovery-around-the-corner","title":{"rendered":"ApeCoin Price Plunges 36% in a Month – Is A Recovery Possible for APE?"},"content":{"rendered":"

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.<\/span><\/p>\n

Is there any hope for the future after a year-long decline that’s seen ApeCoin<\/span><\/a> plunge 60%? <\/span><\/p>\n

\"apecoin<\/p>\n

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.<\/span><\/p>\n

Ape’s Quasimodo Pattern Shows Bearish Sentiment<\/span><\/h2>\n
\"APEUSD
APEUSD Chart Analysis. Source: Tradingview.com<\/figcaption><\/figure>\n

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. <\/span><\/p>\n

However, any journey up for APE is fraught with challenges. Investors must bear this in mind and look to secure profits at strategic levels.<\/span><\/p>\n

APE Price Displays Bearish Indicators<\/span><\/h2>\n
\"APE\/USD
APEUSD Indicator Analysis. Source: Tradingview.com<\/figcaption><\/figure>\n

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. <\/span><\/p>\n

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.<\/span><\/p>\n

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

 yPredict: Empowering Traders with Data-Driven Insights and Analytics<\/span><\/h2>\n

yPredict <\/span><\/a>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.<\/span><\/p>\n

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.<\/span><\/p>\n

\n

📣 yPredict Unveils Revolutionary AI-Driven Backlink Model, Disrupting Crypto and Marketing Sectors! <\/p>\n

🚀 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<\/a><\/p>\n

— yPredict.ai (@yPredict_ai) July 4, 2023<\/a><\/p><\/blockquote>\n