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- 1 ApeCoin price prediction suggests this coin might show a sharp rise and expand the range upwards.
- 2 APE price is stuck into the narrow range consolidation.
- 3 The 50 day EMA is acting as a support for the APE bulls.
ApeCoin price prediction suggests a sharp increase is possible in the coming months. It has consolidated for quite a long time and formed a strong base. So, buyers are getting active and are likely to win the battle inside the range.
APE price is slowly recovering, forming higher high swings. The buying volume is also increasing which indicates the presence of bulls at the lower levels.
ApeCoin crypto managed to climb above the 50 day EMA and turned the short trend in upward direction. However, the 200 day EMA turned out to be a strong hurdle and halted the momentum.
Presently, APE price is trading between the 50 day and 200 day EMAs. If the buyers succeed to push the price above the 200 day EMA, then the positional trend will also turn upward.
The next phase of the rally will be triggered when buyers are able to break out of the $0.1888 hurdle. Previously, bulls attempted multiple times to break this hurdle to expand the range upward. But the sellers were able to defend their boundaries.
However, the chart pattern suggests that the upcoming breakout attempt will be powerful.
Will ApeCoin Price Go Beyond $2.00 in January 2024?
ApeCoin price is underperforming compared to other cryptos. However, the price action suggests this coin might explode anytime and go beyond the $2.00 mark. So it’s better to hold the existing long position and wait for some more time.
Till APE price is sustaining above the 50 day EMA, the buyers will remain active and try their best to absorb the minor selloff.
The analysis suggests, APE crypto needs fresh buying to pick up the momentum. So investors may look to buy and expand the range.
The Consolidation in APE Price May End Soon
APE price holds the $1.500 support for a quite long time. It showed that price had formed a strong base and that the downside risk is low.
However, if the situation changes and bulls lose control near the demand zone, then the price might decline sharply toward $1.300 and may raise concern for long term investors. At present, the APE is inside the bulls’ grip and the probability of range expansion remains high.
Conclusion
ApeCoin price prediction suggests a rise in the short run and that the coin might show a range expansion. The chart pattern favors the bulls, suggesting that the buyers are returning back to the track. Therefore, APE price is bullish and it may go beyond the $2.00 mark by January 2024 end.
Technical levels
- Resistance levels: $1.888 and $2.130
- Support levels: $1.506 and $1.402
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.