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TRENDING: EURUSD| GBPUSD| AUDUSD| USDCAD| XAUUSD

TRENDING: EURUSD| GBPUSD| AUDUSD| USDCAD| XAUUSD
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APECOIN PRICE PREDICITON: CAN APE BULLS STRETCH THE BULLISH STREAK TO FOUR
WEEKS?

Cryptos | 1/12/2023 2:20:22 AM GMT
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 * Apecoin price is on its fourth consecutive week of positive returns.  
 * The next bullish target lies at $6.30, 24% above the current APE price.
 * Invalidation of the uptrend for APE is a breach below January's low at
   $3.61. 

ApeCoin price continues to display bullish cues. If market conditions persist,
APE may be on its way toward much higher targets.


APECOIN PRICE GOING OFF ON ONE

ApeCoin's price is currently up 37% since the start of the new year. Throughout
the month, the bulls have produced significant uptrend momentum, blowing past
November's midpoint and taking out the monthly high as of this week. 

APE price currently auctions at $4.92. The bulls have produced three consecutive
weeks in the green and are likely to succeed at their fourth if the market
remains elevated above this week's opening price of $4.44. 



The Relative Strength Index, an indicator used to gauge the strength and
momentum of a trend, shows the uptrend is genuinely bullish based on breaking
out past overbought conditions on the daily time frame. Since this is the case,
the APE price could go on to challenge the liquidity above September's monthly
high, near $6.36. The Ethereum-based NFT token would rise by 24% in this case.



APE/USDT 8-Hour Chart

Since the APE price is already elevated and traders are in profit from the
previous trade idea, the uptrend invalidation point should be a stern breach
below the 8-day exponential moving average at $4.50. If the barrier is breached,
APE could go on to test previously broken resistance zones as support,
presumably at $4.00 and potentially $3.85. The bearish scenario would result in
a 20% decline from ApeCoin's current market value.


THIS VIDEO DETAILS HOW BITCOIN PRICE MOVES COULD AFFECT APECOIN PRICE



 

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RECOMMENDED CONTENT





EDITORS’ PICKS


ETHEREUM STAKING GETS HOT AHEAD OF SHANGHAI UPGRADE, ETH TURNS DEFLATIONARY
AGAIN

Ethereum staking, which involves locking ETH tokens in a deposit contract and
earning the opportunity of validating transactions and yielding the altcoin as a
reward, has increased ahead of a major event for the altcoin: the Shanghai hard
fork, which could happen in March 2023. 


More Ethereum News




BINANCE'S CZ THWARTS HARMONY ONE HACKERS FROM LAUNDERING, RECOVERS 124 BTC

Binance CEO Changpeng Zhao informed his 8.1 million followers on Twitter that
the exchange collaborated with Huobi to thwart Harmony One hacker’s recent move.
The security teams of the exchanges worked together to help recover $2.6 million
worth of BTC from the $100 million hack in June 2022. 


More Cryptocurrencies News




WILL ETHEREUM PRICE TAKE A BREAK BEFORE $2,000?

Ethereum price stands tall after its two-week long rally without any signs of
reversal. However, ETH is currently facing some significant hurdles that could
trigger its reversal, so investors need to exercise caution.


More Ethereum News





ETHEREUM SHORT TRADERS COULD PROFIT ON ONE CONDITION AHEAD OF ETH SHANGHAI
UPGRADE

Ethereum, the second-largest cryptocurrency by market capitalization, yielded
21% gains over the past week. Experts argue that bulls are close to exhaustion,
and traders with short positions could profit ahead of the Shanghai upgrade. 


More Cryptocurrencies News




BITCOIN: WILL $20,000 BE THE END OF BULL RALLY FOR BTC?

BTC looks healthy and ready to retest one of the significant hurdles at
$19,248. Network activity shows enthusiasm, but on-chain metrics reveal this
move cannot sustain. Two key levels to pay attention to include $19,248 to the
upside and $15,443 to the downside.


Read full analysis




BTC




ETH




XRP




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