- Apecoin is in an uptrend
- A decent opportunity for short-term investors
The current trend for Apecoin is up, with the coin hovering around its 50 EMA (the blue line). Currently, Apecoin is at its resistance level, ready to break out of the demand zone.
apecoin on daily chart
We can see a demand zone form over and over again on the daily chart and after a breakout you see a move higher so if the same thing happens at current price levels we may see a breakout again. the zone and a bullish move thereafter.
MACD– There has been a bullish cross on the MACD. When the blue line of the MACD crosses the orange signal line upwards, it is known as a bullish crossover. The daily chart for Apecoin has turned bullish, as shown by the bullish MACD crossover.
Relative Strength Index (RSI) – At 73.97, the RSI curve has crossed the 50 point threshold. The overbought region of the RSI curve has crossed, indicating bullish momentum. The increase in the price of Apecoin has improved the value of the RSI curve. If the price continues to rise, the RSI curve can rise sharply.
Analyst opinion and expectations
We may see a move higher in the next few days, so short-term investors can wait to invest, but long-term investors should stay away and wait until there is a golden cross. [where 50 EMA cuts 200 EMA from below generating a buy signal].
Apecoin's short-term price projection for 2023 from CoinCodex it was a bit ambiguous; he said that the token could fall to $3.76 on January 16 before rising to $5.45 on February 11. Perhaps surprisingly, the site's technical analysis was bullish, with 20 indicators producing positive signals versus just five negative ones.
With the prospect that the price of Apecoin could rise steadily over the next few years, digital currency price produced a positive prediction for the price of the cryptocurrency. According to the website, the value of APE will rise to $17.47 by 2025. According to their forecast for Apecoin prices in 2030, they can go as high as $50.18.
Given the usual downtrend of the website, it may come as a surprise that WalletInvestor was bullish on an APE price projection. According to the website, the value of the token could hit $9.23 in January 2024 before rising to just under $27.69 in five years.
Technical levels
Increased resistance -$7,347
Senior Support -$2,793
Conclution
Apecoin seems to be moving in a positive direction. Investors with short time horizons have opportunities. A bullish rise could be seen in the next few days.
Disclaimer: The opinions of the author and those of the individuals mentioned in this publication are for informational purposes only and should not be construed as financial, investment or other advice. There is a possibility of suffering a monetary loss when buying or selling cryptocurrencies.
