ApeCoin Eyes $10 Ahead Of Staking, Could This Be A Bullish Catalyst?

  • APE appears bullish in anticipation of staking. This could be one the most anticipated stakings of crypto.
  • On the daily time frame, Price reclaims 50 exponential moving averages (EMA) 
  • ApeCoin prices break out of an asymmetric triangular setting up a bullish scenario

ApeCoin (APE), a cryptocurrency that has experienced more turmoil than its rosy beginning, fell from $27 a $4. But it could be poised for an important run before its impending stakes which will start in the fourth Quarter of 2018. ApeCoin (APE), in spite of uncertainty on the price of crypto markets, has been strong against USDT (tether). Data from Binance platform

ApeCoin’s (APE) price analysis on the Weekly Chart 

Although so much speculation about the price of APE performing so well, like its Bored Ape Yacht Club, Mutant Ape Yacht club, and of course, the sale that generated so much talk in the crypto industry, “the Otherside” land sale. APE’s performance was brief-lived due to the continued decline in crypto asset prices.

APE’s weekly price chart was rejected because the price attempted to break above $7.5. The weekly price fell to $4. APE’s price bounced back from this level, with what appears to be a high demand area for APE. 

The APE price rose from $5.7 to $5.7. However, it was faced with resistance in breaking out of this area to continue trending higher. APE price must rise to $6 or more to regain bullish sentiment.

If the price breaks above $7.5, it would be a sign of strong bullish movements as there has been a lot of rejections from this region.

APE is bullish before the staking. The staking acts as a catalyst for APE’s price movements.

Weekly resistance for the price of APE – $7.5.

Weekly support for the price of APE – $4.

Comparison of the Price Of APE For The Four Hourly (4H), Chart

Source: APEUSDT on Tradingview.com| Source: APEUSDT On Tradingview.com

APE prices continue to appear strong in the fourth quarter. APE broke out from its asymmetric Triangle and closed above that, indicating more bullish movements.

APE’s current price is $5.66 below the 200 and 50 Exponential Moving Averages (EMA). This supports the APE price. Price of $5.2 is the 50 EMA support for APE. To maintain APE’s bullish structure, the price must hold the asymmetric triangular to keep it ahead of the stake. 

Four-hourly resistance for the APE price – $6.5.

Four-hourly support for the APE price – $5.2-$4.5.

Featured Image from Boardroom and Charts at Tradingview 

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