Apecoin’s (APE), currently has a difficult start to November. It continues to paint its chart red and is down by nearly 15% in the past 30 days.
According to tracking, the main cryptocurrency in Bored Yacht Club’s ecosystem was launched on March 16th 2022. It is currently changing hands for $4.44 Coingecko.
Here’s a quick glance at how APE has been performing this month:
- Apecoin managed to finally break free from its bearish price trend after just six months
- APE is down by 6% in the past seven days
- Volume spikes that exceed $5 are possible to cause a 20% rise
The token lost 7.2% over the past 24 hours and 6.2% in the seven-day period.
Still, the crypto has performed very well considering it is a brand new release. It placed 40ThIt is based on market capitalization and its overall value of $1.40 Billion.
Apecoin’s technical indicators point to a potential massive spike in demand, even though it is currently struggling.
Apecoin Breaks the Bearish Trend With A Bullish Breakout
APE was immediately released and its price caught up in the volatility of crypto markets. The descending triangle designWhich is bearish.
Apecoin will be held on November 5th. It was possible to free yourselfStarting from the descending loop, gained some ground and initiated a bullish trend.
It surpassed the $5 mark on the following day and peaked at $5.20 the next day. However, the asset wasn’t able to keep it up as it abandoned the $5 region on November 7 and has been on a decline since then.
APE’s ability to set $4.175 as the support level is a positive thing. If buyers are able to generate enough volume spikes and sustain it after the crypto reclaims and surpasses the psychological $5 mark, there’s a high likelihood that Apecoin will surge by 20% and hit $6.
Moreover, with a double-bottom reversal, that $6 marker could be established as APE’s new support region, indicating that the asset could go as high as $6.6.
Google Offers Apecoin More Usefulness
You may recall that Google announced that it would support cryptocurrencies a few weeks back. Allow Apecoin to be usedAs payment for cloud services, it accepts Dogecoin as well as Shiba Inu.
While the tech giant has maintained a negative view of crypto assets, the management stated that the company was reconsidering its policy to allow digital currencies.
Google and Coinbase have already collaborated on this initiative. Google will accept SHIB, APE, DOGE payments early in 2023. But, no specific date has been set.
Featured image from Pexels, Chart: TradingView.com| Featured image from Pexels, Chart: TradingView.com