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Vikram
May 5, 2022
by Vikram

APE Technical Analysis: Bullish Rerun in APE Price Eye $20

APE
APE prices show a bullish reversal from the support trendline and retain the $15 mark after a short dip. Will buyers have the $20 mark?

Key technical points:

  • APE market price rises above $16

  • The market value has inflated by 9.28% in the last 24 hours.

  • The 24-hour trading volume of Apecoin is $2.79 Billion, reflecting a rise of 103%. 

    • Past Performance of APE

    APE prices showcase a drastic fall from the psychological barrier of $25, leading to the correction to $14, close to the support trendline. The downfall accounts for a 40% deflation during the last week resulting in the breakout of all the crucial EMAs. However, the reversal refrains the 200 EMA and surpasses the psychological milestone of $15.

    TradingView Chart

    APE Technical Analysis 

    APE price action shows bullish candles spiking above the $14 mark and challenging the 100 EMA. However, buyers must wait for closing above the 50 EMA to avoid a bull trap. 

    The recent price has reclaimed the 200 EMA slope, suggesting the bullish momentum remains intact. However, other EMAs 20, 50, and 100 above the price indicate multiple resistance before $17.6. 

    A bullish crossover among the MACD and signal line starts a fresh, positive trend of histograms giving additional confirmation for long trades. Moreover, the lines crossing into the positive territory will ensure a bull run to $20.

    Following a bullish price-action divergence, the RSI slope rose higher, nearing the neutral line. A crossover above this equilibrium would bring a positive switch in market sentiment. 

    In a nutshell, APE technical analysis shows a high likelihood of a breakout rally to the $20 mark.

    Upcoming Trend 

    If the APE price trend continues to get the demand surge, it will soon surpass the $17.60 resistance zone and 50 EMA to signal a bull run over the psychological milestone of $20. However, a possibility exists of sellers regaining control near the $17.60 to push below the $15 mark to test the support trendline.

    Support Levels: $15 and $11.5

    Resistance Levels: $17.60 and $20

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    ApeCoin $APE
    APE Technical Analysis: Bullish Rerun in APE Price Eye $20
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

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