- ApeCoin price broke the two-week downtrend by collecting 15%.
- This uptrend paves the way for another uptrend that could push the APE to an all-time high of $17.46.
- A three-hour candlestick closing below $9.64 will create a lower low and invalidate the bullish argument.
ApeCoin price gives a buy signal
ApeCoin price has lost approx. 31% between 28 March and 7 April and it broke the $12.28 support level. This downtrend reversed after APE 15% back It marks the start of an uptrend on April 10.
a move impulsive it usually leaves the demand areas behind and ranges from $10.82 to $11.12 for ApeCoin price. A pullback is in sight towards this support zone as the APE faces resistance at $12.28. most probably.
As the bears pull the ApeCoin price into the demand zone, investors may begin to pile up as the rally from a retest of that zone will be key to triggering a rally. In such a case, APE will collect 10% to challenge the $12.28 barrier; turning this level into a support base will open the way to $14.43, It means a 30% gain .
In a very high situation, ApeCoin’s price could extend the volatility and mark the all-time high at $17.46.
The supply distribution chart supports the upward trend in ApeCoin price. This index tracks the number of APE tokens held by institutions or wealthy investors. Investors holding 100,000 to 1 million APE tokens rose 3,700% from 4 to 152 since March 10.
The same trend can be seen in the next category of wallets with 1 million to 10 million APE tokens. These investors fell from 183 to 192. 5% increase in the same period.
The peak in the number of whale wallets indicates that these investors have confidence in the market. rising performance ApeCoin price.
regardless of appearance On the bullish side of ApeCoin price, a break above $10.82 will invalidate the three-hour demand zone and pave the way for more corrections.
a candlestick The three-hour chart closing below $9.64 will create a lower low and invalidate the bullish argument for ApeCoin price. In such a case, the APE could drop into the $8.19-8.76 demand zone, seeking stable support areas.
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Alm Maye has been a trader and analyst since 2013. He specializes in stock markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of featured articles on specialized sites such as actions-boursieres.fr and the international network of Finixio.com.
Source From: Google News