- For the last five trading sessions, APECoin price faces a retracement phase after reversing from the upper band of the Bollinger Bands indicator.
- APECoin is trading just above the 20 day moving average and the bulls barely manage to keep the cost of the asset above this zone.
- The price of the APE token pairing with the bitcoin pair is in the green zone by 1.15% at 0.0002327 satoshis.
The price of APECoin has been down for the past several weeks after reversing from the 2022 high of $27.60 mark. The price action of the APE token shows the formation of lower highs over the past several days.
APECoin is a 4-hours price chart
In the context of the 4-hours price chart, APECoin price action broke below the upward trend line and became bearish for the short-term view. Meanwhile, bulls often fail to move above the mid-band of the Bollinger Bands indicator on the 4-hours chart.
There is an important hedge zone in the lower range of the BB indicator while APECoin against the USDT pair is trading at the $4.47 mark at the time of writing. Meanwhile, the altcoin fell 4.3% this week.
The market cap is still above $1.33 billion, up 1.3% over the past 24 hours from CMC data. During the downtrend, trading volume continued to decline, suggesting less volatility in the price of APECoin.
APECoin on a daily price scale
In terms of the daily price chart, APECoin is trading just above the 20-day EMA and the bulls barely manage to keep the cost of the asset above this zone.
Similarly, the Daily RSI indicator got a rejection on the semi-line (50-point). At the same time, the ADX indicator continues to move downward, showing weakness in the price of APECoin.
закључак
The bulls act as short-term support near the key $4.0 level. If APECoin’s price falls below this hedge zone, the price may drop from current levels to the $3.0 mark.
Ниво подршке - $4.0 и $3.0
Ниво отпора - 5.0 и 10 долара
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Source: https://www.thecoinrepublic.com/2022/07/02/apecoin-price-analysis-ape-collapse-near-the-resistance-zone-which-is-the-next-support-zone/