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Cryptoknowmics 2022-04-27 23:00:45

APE Technical Analysis: Reaching $20 Apecoin Prepares Another Jump

APE coin price gives a rounding bottom breakout to surpass the $19.35 mark with a bull run from $17.75. Should you add more as the new bull run starts? Key technical points: The APE price action forms a symmetrical triangle pattern. The price trades under all the crucial EMAs. The 24-hour trading volume of Apecoin is $1.60 Million, reflecting a fall of 20%. Past Performance of APE The APE coin price shows a remarkable rise of 40% in the last week resulting in a rising converging wedge in the 4-hour chart. Within the rising pattern, a rounding bottom breakout is observed with a neckline at $19.35. Hence, a price jump to the resistance trendline is highly likely in the upcoming sessions. Source-Tradingview APE Technical Analysis The increase in trading volume supports the APE price jump, indicating a solid underlying bullishness. Moreover, the breakout of the resistance trendline will boost the bull run above the $20 mark. The rising trend of the crucial EMAs maintains a bullish alignment increasing the chances of an uptrend continuation. Moreover, the significant spread between the EMAs makes them viable support levels. MACD Indicator: The MACD and signal lines maintain a diagonal rising trend giving a bullish crossover. RSI Indicator: The RSI slope approaches the overbought boundary while sustaining above the 14-period average. In a nutshell, the APE technical analysis displays a high likelihood of a bull run above $20. Upcomi...

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