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As of the time of writing, the ApeCoin token is the second-best performing cryptocurrency on the market. However, despite this performance, price movements suggest that bearish headwinds may still be in control. Be that as it may, let’s dive deeper into the analysis of its price action.
APE Statistics
Current Price: $0.2444
Market Capitalization: $180.76M
Circulating Supply: 752.65M
Total Supply: 1B
CoinMarketCap Rank: 170
Key Levels
Resistance: $0.2500, $0.3000, $0.3500
Support: $0.2250, $0.2000, $0.1750
ApeCoin Bulls Take a Stand
The APE market has been dropping to lower price levels since it lost footing above the $0.4000 mark. The market has seen a sizeable upward move in the ongoing session. However, trading remains below the 9-day Exponential Moving Average (EMA).
At the same time, the Stochastic Relative Strength Index (SRSI) indicator lines can be seen rising sharply after aborting an upward crossover. Even so, traders may want to remain cautious on the sidelines for now.
APE Holds an Impressive Upside Outlook
The ApeCoin 4-hour chart presents a bullish outlook. The Stochastic Relative Strength Index (SRSI) indicator lines remain consistent with the upside trajectory seen on the daily chart. Here, the lead line is now testing the 80 mark on the indicator.
Meanwhile, the latest price candle can be seen positioned just above the 9-day EMA, appearing green above this level. Price action therefore aligns with SRSI movement and suggests that the market may push toward the $0.2600 mark.
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