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Cryptoknowmics 2022-04-23 07:50:44

APE Technical Analysis: Buyers Ready For An Elastic Jump To $20

With the APE coin trending and ready to give a rounding bottom breakout to reach $20, should you join the rally, or is it too good to be true? Key technical points: APE prices form a rounding bottom pattern. The 100 and 200-day EMAs give a bullish crossover. The 24-hour trading volume of Apecoin is $1.414 Billion, marking a 10% rise. Past Performance of APE APE coin price action shows an impressive reversal from the $14 level yesterday and completes retesting the breakout of 20th April. The buyers who stepped in at $14 altered the course of the action and helped reignite the bullish trend, allowing it to reach $16.50. Source-Tradingview APE Technical Analysis APE coin price action produces bullish engulfing candlesticks with a strong signal of bullish commitment reflected in the increase in volume. Furthermore, the price action creates a rounding bottom pattern with an upper neckline of $17. The extraordinary growth in coin price transcends all the crucial EMAs and brings a bullish reversal in the averages. Moreover, the inflation accounts for 50 and 100-period EMAs giving bullish crossover and increasing the overall bullish attention for the token. RSI Indicator: The daily-RSI slope shows a bullish trend in continuation to reach the overbought boundary after testing the halfway mark. MACD Indicator: The crossover of the MACD and signal lines give a bullish entry signal with the positive histograms making an entrance. Hence, t...

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