Apecoin price analysis report shows that the crypto pair is on the rise as the coin continues to move higher on the second day. APE made big gains on March 17-18, 2022, and then the price movement slowed down.
Yesterday the coin started to rise and reached a record level of 13.3; however, a wild peak of $40 was also observed on March 17, 2022, but the price will be adjusted soon. However, the gains covered a nice range from $13.3 to $16 today. The bulls are raising the bar and $18 seems to be their next target.
APE/USD 1-day price chart: Ape bulls target $18
The one-day price chart for Apecoin price analysis shows that the coin is still moving up aggressively and gaining significant value after continuing to move higher for the past four days. But starting yesterday, APE has started to surge again as it is now trading at $16 at the time of writing, indicating the huge gains it has made in just two days.
APE/USD is up more than 30 percent in value over the last 24 hours and has also seen a nearly 30.2 percent rise in value over the past week, making it the highest gain among the top 100 cryptocurrencies. Apecoin’s market cap also increased 31.22% over the last day, and its trading volume increased 272% during that time.
Volatility increases when competing coins are high. The upper limit of the volatility indicator, Bollinger Bands, is technical support for APE at $14.4 as the price is trading above the upper band and the lower band has moved as low as $9.7. The Relative Strength Index (RSI) continues to trade in overbought territory at the 86 Index. The RSI is close to reaching the limit of the overbought zone at the 68 indexes as indicators have been moving higher since April 18, 2022, indicating high buying activity in the market.
Apecoin Price Analysis: Recent Developments and Additional Technical Indications
Apecoin’s 4-hour price analysis shows that the price increased for the first four hours of today’s trading session and then adjusted over the next four hours. Now the price of the coin has started moving up again and is almost crossing the line from where the last hourly correction started. The RSI curve is aligned and shows a straight horizontal movement from the 4-hour chart. It was probably due to the correction and then being swallowed by the bulls again.
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The price is still trading above the Bollinger Bands and the 4-hour chart, showing support for the price function at $15.7, and the divergence indicators also point to high hourly volatility.
Apecoin’s technical indicators for price analysis are perfectly aligned as 11 indicators suggest investing in crypto-assets and only one indicator opposes the idea. However, the five technical indicators are neutral.
Apecoin Price Analysis: Conclusion
Apecoin price analysis shows that the coin may start adjusting or strengthening if the 4-hour chart RSI drops, indicating a recent slowdown in buying, or we can say a resumption after the adjustment resumes. So, traders can expect the coin to break near $18 in the next few hours today.