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Homeprice predictionApeCoin Price Prediction: APE Failing To Escape Downtrend?

ApeCoin Price Prediction: APE Failing To Escape Downtrend?

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  • ApeCoin (APE)  is trading at $1.91 at the present time with a drop of -7.24% in the last 24 hours.
  • The APE  declined by -17.33% in the last 7 days.
  • Currently, the is experiencing a downward trend.

APE  investors are facing a tough time in the market. Investors lost about more than 93% of their invested capital and the hope of the investors is dying now. Based on the price data, it can be observed that it is in a massive downtrend. The price declined by -17.33% in the last seven days and we can say that Apecoin didn’t perform well. It tanked -92.89% from its peak price of $26.70 in a span of 12 months. APE Coin’s existing market sentiments are not exactly positive. Volume is low and as of now, there is hardly any buying pressure. Bears are overwhelming the market.

ApeCoin  (APE) Coin Technical Analysis

The APE price has dropped below the 50 and 200 EMAs, which suggests that the price is in a bearish trend. If the sellers maintain the pressure, the ’s value may drop even further in the forthcoming week. The bears are not in the mood to give power to bulls right now. A death cross was observed on the chart.

 Coin Technical Analysis
Source: APE/US DOLLAR by TradingView

The MACD indicator also indicates a negative trend. The MACD line at -0.155 and signal line at -0.156 is below the zero line, suggesting that the MACD is in negative territory and is giving bearish signals.

The current value of RSI is 29.79 points. The 14 SMA line is currently close to the median line, around 38.38 points which indicates negative sentiment in the market. As the price is heading towards the overbought territory, the market encounters strong bullish sentiment.

 ApeCoin  analysis
Source: APE/US DOLLAR by TradingView

Volume Analysis

ApeCoin ’s average trading volume for the last 24 hours is $87546323. It is showing a 66.90% drop in volume in a day. APE’s low volume is mainly due to a lack of buying interest among investors.

Summary

ApeCoin is struggling in the market. Based on the price action, it seems that a price break of its primary trendline support level may lead to further price drops in the upcoming days. ApeCoin ’s price shows a pessimistic situation at the moment. The EMAs, the RSI, and the MACD gave negative signs about the. There are not showing any recovery signs visible right now.

Technical Levels:

  • Support – The current support levels are $1.662 and $1.1.
  • Resistance –The current resistance levels are  $3.08 and $3.936.

Disclaimer

The research given in this article is for informative and educational use only. Do not take this information as a financial or trading recommendation. Trading and investing have financial risks. Before creating any investment or trading decision, please consider your risk profile and circumstances.

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