bored ape

  • ApeCoin price is likely to retrace to stable support levels after a 60% ascent.
  • This downswing will set a base around $13.59 before exploding to a new all-time high at $22.05.
  • A three-hour candlestick close below $12.53 will invalidate the bullish thesis for APE.

ApeCoin price is undergoing a retracement after the massive run-up triggered on April 18. This move is likely going to allow bulls to recuperate for the next leg that will shatter through the current ceiling and set a new all-time high.

The extremely optimistic outlook makes sense considering the rumor mill that has been churning since April 20. The talk of the crypto twitter is that APE tokens will be a medium through which holders can purchase land in a metaverse that is being launched by YugaLabs, the owner of the popular Bored Ape Yacht club.


Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM


ApeCoin price readies for next move

ApeCoin pric

Will ApeCoin price make a run for the all-time highs in this upcoming rally

Will ApeCoin price make a run for the all-time highs in this upcoming rally

FXStreet News FXStreet News 11.04.2022 16:52
ApeCoin price has shattered its two-week downtrend by rallying 15%. This uptrend sets the stage for a further ascent that could propel APE to an all-time high at $17.46. A three-hour candlestick close below $9.64 will create a lower low and invalidate the bullish thesis. ApeCoin price action over the past day shows signs that the bulls are back in town. The initial upswing, while interesting, sets the stage for more gains to come for APE. ApeCoin price reveals a buy signal ApeCoin price has shed roughly 31% between March 28 and April 7 and shattered the $12.28 support level. This downtrend was undone after APE rallied by 15% on April 10, suggesting the start of an uptrend. An impulsive move often leaves behind demand zones, and for ApeCoin price, it extends from $10.82 to $11.12. As APE faces a resistance at $12.28, a retracement back to this support area seems likely. As bears pull the ApeCoin price lower into the demand zone, investors can begin accumulating as the resulting upswing on the retest of the said area will be key in triggering an upswing. In such a case, APE will rally by 10% to contest the $12.28 hurdle; flipping this level into a support floor will open the path for $14.43, indicating a 30% gain. In a highly bullish case, ApeCoin price could extend the run-up and tag its all-time high at $17.46. APE/USDT 3-hour chart Supporting the uptrend in ApeCoin price is the supply distribution chart. This index tracks the number of APE tokens held by institutions or high net worth investors. Investors that have 100k to 1 million APE tokens have increased from four to 152 since March 10, denoting a 3,700% increase. The same trend can be seen with the next category of wallets holding between 1 million and 10 million APE tokens. These investors grew in number from 183 to 192, suggesting a 5% increase in the same period. The spike in the number of whale wallets indicates that these investors are confident in the bullish performance of ApeCoin price. APE supply distribution Regardless of the bullish outlook for ApeCoin price, a breakdown of the $10.82 level will invalidate the three-hour demand zone and open the path for further correction. A three-hour candlestick close below $9.64 will create a lower low and invalidate the bullish thesis for ApeCoin price. In such a case, APE could crash to the $8.19 to $8.76 demand zone, in search of stable support areas.
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

Record-Braking (APE)!? How ApeCoin entry to the Metaverse can send APE price to new all-time highs

FXStreet News FXStreet News 21.04.2022 16:47
ApeCoin price is likely to retrace to stable support levels after a 60% ascent. This downswing will set a base around $13.59 before exploding to a new all-time high at $22.05. A three-hour candlestick close below $12.53 will invalidate the bullish thesis for APE. ApeCoin price is undergoing a retracement after the massive run-up triggered on April 18. This move is likely going to allow bulls to recuperate for the next leg that will shatter through the current ceiling and set a new all-time high. The extremely optimistic outlook makes sense considering the rumor mill that has been churning since April 20. The talk of the crypto twitter is that APE tokens will be a medium through which holders can purchase land in a metaverse that is being launched by YugaLabs, the owner of the popular Bored Ape Yacht club. Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM ApeCoin price readies for next move ApeCoin price set a swing low at $9.52 after crashing 45% from its all-time high. This downswing set the lower limit and was followed by a 62% run-up that set a local top at $15.53. Since this range was established, APE has been traversing inside it. On April 18, ApeCoin price kick-started a 62% upswing that pushed it through the previous all-time high at $17.46 and set a new one just above it at $17.53. Since this peak, investors have been booking profits, leading to a retracement. So far, ApeCoin price has dropped 16% and is likely to continue heading south until it encounters the $13.59 support level. If the buying pressure picks up, it will indicate that the bulls are interested in accumulating APE at a discount. Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM Therefore, a foothold formation here could be the key to catalyzing the next leg that pushes ApeCoin price beyond the current all-time high and make a run at the $20 psychological level. Using the trend-based Fibonacci extension, the next target at the 100% extension is $22.05. This move from $13.59 to a new all-time high at $22.05 would constitute a 61% gain and is likely where the top will form for APE. APE/USDT 3-hour chart On the other hand, if Bitcoin price continues to descend, there is a good chance ApeCoin price will follow suit. In such a case, APE is likely to slide lower and retest the 50% retracement level at $12.53. Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM This development will provide sidelined buyers another chance at accumulating the altcoin. However, a three-hour candlestick close below $12.53 will invalidate the bullish thesis for ApeCoin price and suggest the possibility of a retest of the range low at $9.52.

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