APE Technical Analysis - APE Buyers Ready To Reach $20 | Cryptoknowmics

Описание: We are here to enlighten you with predictions from the Crypto community!!
And today, we present to you a technical analysis video on the infamous Apecoin Token!

With the Apecoin trending and surging phenomenally, should you join the rally? Watch this video till the end to make a more logical decision.
Apecoin, the native token of the APE Ecosystem, is inspired by the Bored Ape Yacht Club and is the top NFT token as per coinmarketcap.com. The Apecoin has been making a loud noise in the segment and cracking multiple resistance levels last week. Before starting with the technical jargon, let’s see what the token price holds today!$16.81 at 5:30 GMT, a remarkable growth of 19.00% in the last 24 hours, and reflects a long line-up of buyers!

Presuming the uptrend continues, with sustained buying pressure, the price could reach the $20 mark shortly. Heading to the fundamental numbers, the intraday trading volume is almost $1.41 Bn and a live market cap of $4.76 Bn. So, the figures are precisely suited for the top NFT coin.
APE coin price action displays a remarkable reversal from $14 yesterday, with the retest completion. The buyers stepping in at $14 changed the course of action and refueled the uptrend to surpass $16.50.

Let us take a more in-depth look into the technical analysis of the APE token and see what the price action and the technical indicators say about it.

https://www.tradingview.com/x/PHXAbe3h/
As we can see in this chart, APE coin price creates multiple bullish engulfing candlesticks in the 4-hour timeframe, with bullish commitment reflected by a surge in volume. Moreover, the price action forms a rounding bottom pattern with a neckline at $17.

The extraordinary growth in coin price transcends all the crucial EMAs and brings a bullish reversal in the averages. Moreover, the inflation accounts for 50 and 100-period EMAs giving bullish crossover and increasing the overall bullish attention for the token.

Looking at the momentum indicators, the RSI slope shows a bullish trend in continuation to reach the overbought boundary after testing the halfway mark. Furthermore, the crossover of the MACD and signal lines give a bullish entry signal with the positive histograms making an entrance.

Hence, the indicators scream a boom in bullish momentum.The APE technical analysis showcases a solid breakout entry opportunity if the prices surpass the $17 mark.As we reach the end of our analysis, let's concise the crucial points you will need before making a rational decision. We see a boom in buying pressure as the uptrend preps to surpass the $17 neckline of the rounding bottom pattern. If the buyers successfully manage a breakout, the uptrend could reach the $20 level.

However, the bullish analysis will be nullified if the prices reverse from the $17 mark, which will result in a retracement to $15. This was the technical analysis for APE. We hope this video was helpful, and you got what you were looking for!! If you enjoyed the session, please like the video. And, for more such analyses, news, and other interesting topics related to Cryptocurrencies, subscribe to Cryptoknowmics!!
Read More: https://www.cryptoknowmics.com/news/a...