• Written by: Michael Fasogbon
• Tue, 10 Sep 2024
•   United States

As the global market cap increases this week, Apecoins price increases and reach a new milestone in two months. This came after reestablishing support above $0.5, now sets for a strong recovery in the short-term. After plummeting below its launch price in mid-June, Apecoin advanced bearish and recorded another 50% […]

APECOIN PRICE ANALYSIS & PREDICTION (September 10) Ape Recovers With Double-Bottom Pattern, Is $1 The Next Target?

As the global market cap increases this week, Apecoins price increases and reach a new milestone in two months. This came after reestablishing support above $0.5, now sets for a strong recovery in the short-term.

After plummeting below its launch price in mid-June, Apecoin advanced bearish and recorded another 50% loss to an all-time low of $0.475 on August 5. It held this low as support and bounced back to $0.8 after three weeks, but unfortunately lost momentum again due to a rejection.

This month, Ape reestablished support above $0.55 after failing to break lower in the last leg down. This led to another bounce and the price rose until it tapped $0.894 yesterday its highest price level since July 4.

The price has retraced briefly from that high and is now looking for a key bounce level in the lower time frame. The closest support to watch is the $0.8 level that flipped during yesterdays surge. It may reach the crucial $1 resistance before witnessing a major pullback. 

Now, it is showing bullish signs following a double-bottom formation on the daily timeframe. This may lead to a reversal if the bulls continue to commit strongly. Another thing to consider here is the recent rise in the daily volume indicator, which suggests a potential bullish move.

APEs Key Level To Watch

An increase above yesterdays high could allow a retest at the crucial $1 resistance launch price level before facing rejection. A push above this resistance could allow recovery to $1.2 and $1.37. 

Aside from the close support, theres a key minor level for a pullback at $0.7, followed by the $0.55 support. A drop below last months $0.475 low may activate more drawdowns to $0.4.

Key Resistance Levels: $1, $1.2, $1.37

Key Support Levels: $0.7, $0.55, $0.4

• Spot Price: $0.82
• Trend: Bullish
• Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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