Analysis of APE Price Trend
The price of APE has been consistently decreasing over a specific period. However, positive strides were recorded this week as APE overturned the downward trend. It is now trading above a support level of $1.07, indicating a potential shift in the trend.
In order for the price to continue rising, the bulls must overcome the resistance from the 50-day and 200-day moving averages. The relative strength index (RSI) shows upward momentum, currently trading at 47, which indicates a neutral position for the price of APE. If the bulls sustain their momentum, the RSI could reach the overbought region of 70.
Based on this analysis, APE has the potential to rebound if more buyers enter the market and push the price above the falling wedge pattern. If this happens, APE could climb further to the previous resistance level at $2.14, representing an 87.6% increase from its current value. Additionally, if the momentum continues, the market could reach a critical point at $3.35.
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- TG.Casino Presale Selling Rapidly: Buy Fast
- TGC Tokenomics
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