Apecoin To Stage A Bullish Rally

last updated on

Apecoin To Stage A Bullish Rally

ApeCoin To Stage A 65% Bullish Rally, According To Forecast

The current trading price of ApeCoin presents a really important opportunity for both the bulls and the bears. It's been 3 weeks since the ApeCoin is trying to cross the $1.73 resistance. If the ApeCoin succeeds, it will lead to a major bullish rally.

However, it is important to note that the current price levels of Bitcoin suggest that it is top-heavy. So if we witness some selling in the Bitcoin, it will also translate to other altcoins such as the ApeCoin.

ApeCoin (APE) Needs A Break Of $1.73

A successful break of the $1.73 price level will establish it as a support floor. As a result, the ApeCoin will then proceed and produce a 22% upside rally that will send it toward $2.12. After that, the ApeCoin (APE) could further extend the upside, but it will require increased buying pressure.

A look at the RSI indicator shows that it is fast approaching the 50 level, which is regarded as the midpoint. This is a sign that the ApeCoin might bounce from current levels as the bullish momentum is slowly fading away.

In addition, the AO (Awesome Oscillator) also paints a similar situation in which the ApeCoin (APE) will drop further. So, if these technical indicators turn out to be true, it will mean the ApeCoin (APE) could potentially fail to conquer the $1.73 handle.

Failure to break the $1.73 will send the ApeCoin towards the $1.60 and $1.50 support levels. In addition, it will also invalidate any chances of any upside in the ApeCoin (APE). In this case, the ApeCoin (APE) will likely lead toward the $1.34 (low) with a downside of almost 16%.

It appears that the ApeCoin (APE) will be driving most of its strength from Bitcoin (BTC). So, as long as Bitcoin can maintain a bullish momentum, the entire crypto market, including the ApeCoin (APE), will continue to print gains over the different timeframes.

Trending Stories