Technical Indicators on APE Price Predict Further Bullish Run as Prices Surge by 3.36% By CoinEdition

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Technical Indicators on APE Price Predict Further Bullish Run as Prices Surge by 3.36%

Cryptocurrency Nov 04, 2022 04:30AM ET

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Technical Indicators on APE Price Predict Further Bullish Run as Prices Surge by 3.36%

APE/USD

-4.72%

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APE pricing analysis found a positive trend, with a price increase of 3.36%.
Bulls continue to dominate the market, according to technical indicators.
ApeCoin (APE) support and resistance levels are $4.30 and $4.62, respectively.

Following a drop and sell-off in the previous 24 hours, the ApeCoin (APE) price has seen a significant rebound, with bulls managing to lift its values by 3.36% to $4.59.

The increase in market capitalization of 2.57% to $1,405,952,955 supports this bullish outlook. However, the 1-day trading volume fell by 6.19% to $243,266,210.

APE/USD 1-day price chart (Source: CoinMarketCap)

The bullish trend on the 2-hour price chart is backed by bulging Bollinger Bands and price movement toward the upper band. The upper Bollinger Band is at 4.618, and the lower Bollinger Band is at 4.189. Swelling of the BB indicates heightened market volatility and raises the likelihood of a breakout

In recent hours, the Moving Average Convergence Divergence (MACD) has climbed over the signal line and into positive territory, with a reading of 0.011. The histogram is also in the positive range, confirming this optimistic mood. These fluctuations point to the continuation of the optimistic sentiment in the APE market.

Since a reading of the Rate of Change (ROC) above zero implies a positive trend, the score of 5.75 and a pointing north of the ROC in the APE price chart supports the upward trend in APE price action.

APE/USD 2-hour price chart (Source: CoinMarketCap)

The 2-hour price chart shows a bullish crossover as the 5-day MA rises above the 20-day MA. The 5-day moving average hits 4.532, while the 20-day moving average touches 4.405. The price hike above both MAs reinforces the optimistic outlook for the APE market.

APE/USD 2-hour price chart (Source: CoinMarketCap)

The bears are outnumbered as the bulls take control of the ApeCoin (APE) market.

Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Technical Indicators on APE Price Predict Further Bullish Run as Prices Surge by 3.36% appeared first on Coin Edition.

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Technical Indicators on APE Price Predict Further Bullish Run as Prices Surge by 3.36%

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