Apecoin Price Likely To Climb 20% If APE Can Sustain Its Energy
08 Novembro 2022 - 3:52AM
NEWSBTC
Apecoin (APE) is currently having a challenging start for November
as it continues to paint its chart in red, declining by almost 15%
over the last 30 days. The main cryptocurrency of the Bored Yacht
Club ecosystem that was launched in March 16, 2022 is changing
hands at $4.44 according to tracking from Coingecko. Here’s a quick
glance at how APE has been performing this month: Apecoin finally
managed to break out of its bearish price pattern after six months
APE has been down by 6% over the last seven days A 20% surge is
possible if volume spike is sustained beyond the $5 marker During
the last 24 hours, the token went down by 7.2% and has lost 6.2% of
its value over the last seven days. Still, for a newly released
crypto, it has been performing well, placing 40th in raking
according to market capitalization with its $1.40 billion overall
valuation. Also, while Apecoin is struggling right now, its
technical indicators are pointing at a possible massive surge that
could happen anytime soon. Apecoin Ends Bearish Pattern With A
Bullish Breakout Shortly after being released, APE immediately
became a victim of the volatile nature of the crypto market as its
price was caught in a descending triangle pattern which is a
bearish one. Related Reading: Dogecoin Climbs 6% In Last 24 Hours –
Can DOGE Maintain Its All-Green Aura? Source: TradingView But, in
November 5, Apecoin managed to break free from the descending loop
and started to gain some ground to initiate a bullish movement. The
following day, the crypto not only reached the $5 marker but
ultimately surpassed it as it peaked at $5.20. However, the asset
wasn’t able to keep it up as it abandoned the $5 region on November
7 and has been on a decline since then. One good thing for APE is
that it was able to establish $4.175 as its support level. If
buyers are able to generate enough volume spikes and sustain it
after the crypto reclaims and surpasses the psychological $5 mark,
there’s a high likelihood that Apecoin will surge by 20% and hit
$6. Moreover, with a double-bottom reversal, that $6 marker could
be established as APE’s new support region, indicating that the
asset could go as high as $6.6. Google Provides More Utility for
Apecoin It can be recalled that few weeks ago, Google showed is
support for cryptocurrencies by announcing that it will allow the
use of Apecoin as well as Dogecoin and Shiba Inu as payment for its
cloud services. Although the tech giant had maintained a negative
stance with regard to crypto assets, its management said the
company is revisiting its policies to open its doors for digital
currencies. With this, Google, who has already collaborated with
Coinbase, will start accepting APE, DOGE and SHIB payments in early
2023, although there is no definite date yet as to when the measure
will be in full effect. Related Reading: Tron Transaction Volume
Balloons To 5.3 Million In Q3, But There’s Still Doubts Ahead APE
total market cap at $1.29 billion on the daily chart | Featured
image from Pexels, Chart: TradingView.com
Dogecoin (COIN:DOGEUSD)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Dogecoin (COIN:DOGEUSD)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024