- APE looks huge before the stake as this could be one of the most anticipated stakings in crypto.
- Price returns to the 50 exponential moving average (EMA) on a daily time frame
- ApeCoin price breaks out of an asymmetric triangle setting up a bullish trend.
ApeCoin (APE) has seen a more tumultuous period since the start of the rosy as its price dropped from $27 to $4, but the stock may be poised for a big run ahead of its planned launch in the fourth quarter of this year. ApeCoin (APE) price showed strong strength against tether (USDT) despite price uncertainty in the crypto market. (Information from Binance forum)
ApeCoin (APE) price analysis on the weekly chart
Despite many speculations that the price of APE will do well, such as Bored Up Yacht Club, Mutant Up Yacht Club and of course the “other” land sale that has caused much talk in the crypto industry. APE’s performance was short as the market continued to bear down on the value of crypto assets.
The APE price on the weekly chart was rejected as the price tried to break above $7.5. The price of APE has risen above that level, an area of high demand for the price of APE.
APE price rose above this range to $5.7, breaking above this range would face resistance to move higher. APE price is looking to break above $6 and continue its bullish trend.
A break above $7.5 would indicate strong bullish activity as the price only rejected that range at what looked like strong resistance.
APE looks bullish ahead of the curve.
Weekly resistance for APE price – $7.5.
Weekly support for APE price – $4.
Analysis of APE price on a four-hour (4H) chart
The 4H period continues to look strong for APE prices as price breaks out of the asymmetric triangle and sets up for more bullish activity.
In the 4H timeframe, APE price is currently trading above the 50 and 200 Exponential Moving Average (EMA) at $5.66, which serves as support for APE price. The $5.2 price corresponds to support at the 50 EMA for the APE price. APE price should hold an asymmetrical triangle to maintain its massive structure before the high.
APE price for four-hour resistance – 6.5 dollars.
Four-hour support for APE price – $5.2-$4.5.
Featured Image From Boardroom, Charts From Tradingview