ApeCoin (APE) bulls have taken control of the market in the previous 24 hours, with APE ending yesterday at $3.86. This bullish run effectively propelled the APE price to $3.88, a 6.47% boost at press time. In the past 24 hours, the pair APE/USD has traded between $3.64 and $3.93 (support and resistance).
The APE market capitalization surged by 6.21 % to $1,395,914,876 and the 24 hour trading volume climbed by 243.7 % to $141,209,976 as a byproduct of the recent positive trend.
With the Bollinger Bands broadening (upper band at $3.947, lower band at $3.668), APE seems set to continue its recent uptrend and maybe reach new highs in the near future. The trend of the BB suggests that buying activity is picking up, which might lead to higher prices for APE in the near future. The market’s movement toward the upper Bollinger Band is consistent with this idea, as seen by the formation of a green engulfing candlestick (a bullish pattern).
A rising rate of change and trend in the positive zone indicate a sustained bullish run. This is reflected in the APE price chart, where the ROC is 6.30, indicating that bulls will have the upper hand in the foreseeable future.
This bullish performance on the 24-hour price chart appears as linear movement in the Bollinger Bands. Both the top and lower bands meet at $3.965 and $3.320, respectively . This action implies the market is steady, which suggests the positive trend may continue provided the bulls maintain their grasp.
As the Relative Strength Index (RSI) rises over 50, buying demand is expected to dominate selling pressure. This movement is seen on the APE price chart, where the RSI is at 56.50, supporting the theory that the bulls’ run will continue.
Ultimately, the APE market’s technical indications point to more gains if bulls can break through the immediate resistance level.
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