The price of ApeCoin (APE) has seen a strong surge today, with the token up over 20% and trading around $2.32 at the time of writing. This latest price action comes after APE broke out above $2.20, which according to analysis from altFINS signaled a continuation of the ongoing uptrend.
altFINS reported that APE is now in a clear uptrend across short, medium and long-term timeframes. The breakout above descending triangle resistance represented a bullish technical sign of trend continuation. With momentum indicators like the MACD and RSI also signaling bullish conditions, altFINS has set an initial upside price target of $2.50 for APE in the near-term.
Source: altFINS – Start using it today
The Moving Average Convergence Divergence (MACD) indicator shows the MACD line trading above the signal line, pointing to positive momentum. Additionally, the Relative Strength Index (RSI) reading is above 55, indicating bullish sentiment and room for more upside. With both momentum oscillators flashing bullish signals, it underscores the upside potential for ApeCoin.
Support for APE is now seen at the previous resistance level of $1.80. Below that the next key support zone sits around $1.50. With the crypto now having broken out to new highs, there is likely to be strong buying interest around these areas on any pullbacks.
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +Looking ahead, if bulls can maintain control, APE could see further momentum towards $3.00. However, the token is likely to face selling interest and profit taking around the psychologically-important $2.50 level. Traders may want to watch for a consolidation between $2.20 and $2.50 before APE makes its next major move.
You may also be interested in:
- How High Can Solana (SOL) Price Surge in the Current Bull Cycle? Is a 10X Increase Possible?
- GMX Price Soars: Expert Predicts ‘Huge Rally” – Here’s His Outlook
- Binance Coin (BNB) & Litecoin (LTC) Rally into DeeStream (DST) Presale Amidst Market Buzz as Holders Eyeing Up 30X Gains
Check $RECQ Meme Coin
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.