ApeCoin (APE) Falls Below the $1.00 Threshold

The ApeCoin market has seen a price increase of 3.95% in today’s trading activities. Despite this, the token’s price action has fallen below the support at the $1.00 price level. Be that as it may, today’s price increase holds some positivity for future price moves. Let’s examine that below.

APE Statistics:

ApeCoin Price: $0.930

ApeCoin Capitalization: $709.64M

APE Circulating Supply: 752.56M

APE Total Supply: 1B

ApeCoin CoinMarketCap Rank: 86

Key Price Levels:

Resistance: $1.000, $1.500, $2.000

Support: $0.900, $0.800, $0.700

ApeCoin Finds Support at the 200-Day MA

As it was earlier mentioned, ApeCoin’s price activity has descended through the $1.00 support level. However, the ongoing session suggests that the market may seek a break at the 200-day Moving Average (MA) line. Also, the Stochastic Relative Strength Index (Stochastic RSI) lines have reached the depth of the oversold region.

The mentioned indicator lines dragged there shortly but seem to have taken off as the terminals of these indicator lines can now be seen lifting slightly upward. Though this seems quite minimal as an indication, combining it with the current behavior of price action does point to some positivity.

The APE Market May See Additional but Minimal Price Increases

Price action in the ApeCoin 4-hour price chart has had a short period of consolidation at the 200-day MA line. Although the price movement during those brief periods of consolidation appears quite small, the ongoing session seems a bit more significant. As a result, the current price of the token now lies above the 200-day MA line.

Meanwhile, the Stochastic RSI lines can be seen still rising towards the 50 mark, though a bit exaggeratedly. Technically, it does seem that this market may record additional price increases towards $1.00. This increases the usefulness of crypto signals targeting short-term gains at and below this price region.

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