APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week – Market Updates Bitcoin News

Apecoin trades close to two-month highs on Monday despite crypto markets being primarily in red to begin the week. At the time of writing, crypto market global are down about 2%. However, filecoin prices have risen almost 70% in seven days, despite the fact that global crypto markets are down around 2%.

Filecoin (FIL).

The notable crypto mover Filecoin (FIL), saw prices for the token rise again after a seventh session.

Monday was a record day for the token, with $11.24 being its intraday highest price since May 11, 2011, when it was trading at $11.50.

FIL trades at nearly 70% of its current price, compared to last week’s close, when the prices for the token was at $5.10.

Biggest Movers: APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week
FIL/USD – Daily Chart

At this point the rally started, with bullish pressure increasing as the days progressed.

The 14-day RSI (relative Strength Index) monitoring reached a peak at 83. This is the highest level since March 2021.

FIL has seen its gains decrease in the past due to prices being too high and after a collision near $11.25.

The FIL/USD exchange rate is $8.88 at the time of writing

Apecoin, (APE).

In addition to FIL, apecoin (APE) was also in the green during Monday’s session, with prices hovering near a two-month high.

APE/USD hit a high of $7.26 in today’s session, which comes less than a day after the token was trading at $6.70.

Today’s move saw the token trade marginally below $7.30, which is its highest point since the end of May.

Biggest Movers: APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week
APE/USD – Daily Chart

The bullish pressure for the price to fall below $7.00 eased after it briefly broke above $7.15 resistance.

If you look at the APE daily chart, the relative strength index currently stands at 64.28. This is close to the ceiling of 65.

If this momentum continues to increase, bulls might attempt to retake a higher resistance level of $9.30.

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Is there a chance that apecoin could surpass this resistance by August? Please share your views with us in the comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and commentator on Crypto, Stocks, and FX markets.

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