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NewsBTC 2022-08-14 11:03:15

APECoin Retraces 2.5% In Last 7 Days – More Selloff In The Offing?

ApeCoin (APE) has been a high-performer with the price surge seen in the past couple of weeks. ApeCoin moving erratic in an ascending parallel channel. Price maintains to hold above the key support zone of $6.5. APE/USD pair gearing sideways spotted at 0.000286 Satoshis. The buying pressure has been impeccable pushing the prices way up. With the recent uptrend, APE registered a 9-week high peaking at $7.8 in the past week. On the other hand, buyers are trying to keep the coin soaring this week – and it seems like they’re facing hard times. The altcoin is seen to retrace by 2.5% as seen in the past seven days with increased selloffs looming in the next coming days. Related Reading: Polkadot (DOT) To Retest $9.88 Resistance – Can Bulls Regain Solid Footing? APECoin Price Trades at $6.83 According to CoinMarketCap, APE coin price has dropped by 1.39% and trading at $6.83 as of press time. A weekly price candle has shaped up in conformity with the past bullish candle. On the 4-hour timeline, the altcoin’s price action is observed to appear with a strong wave of higher-lows and higher-highs within the ascending parallel channel. At this point, buyers are trying to maintain APE as it hovers above the support line of $6.5. A bullish hurdle for the bulls is spotted right at $8.0. Now, if the bulls are able to breach this critical resistance zone, then $10 may be the next target. The RSI for APE has hovered downwards to revisit the sem...

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