Apecoin Price Prediction: Is the $8.5 Price Level Likely to Be Hit?

Summary:

Apecoin's price surged by 18 per cent in yesterday’s trading session. However, today, the prices looks to be in a downward trend.

Apecoin’s price surged by 18 per cent in yesterday’s trading session. However, today, it is down by 4 per cent and the trend is looking highly likely to continue throughout the session. Since its launch, Apecoin has continued to gain traction with users, even in times of controversy.

Unfortunately, even with the traction, the launch came at a time when the entire cryptocurrency industry was in a bearish trend. The result saw the Apecoin price start to take a nosedive to the downside, a few weeks after it was launched.

July, however, has been an interesting month for Apecoin, and the entire cryptocurrency industry by extension. This is because most cryptocurrencies have continued to see gains for the month, Apecoin, for instance, is already up by 40 per cent. Despite most of the current gains coming from yesterday’s surge, the gains in July highlight a new push to the upside that is likely to wipe out last month’s price drop before the end of July.

Apecoin Price Prediction

During yesterday’s trading session, the price spiked by almost 20 per cent. The surge came a few days after the Bored Ape Yacht demo of the Otherside Metaverse. The news of the buy had seen a spike in trading volume days after the announcement.

However, today, the prices are down by 4 per cent and the trend looks likely to continue throughout the session. Despite this, the intraday trading in today’s session is unlikely to change the long-term bullish move.

Therefore, my Apecoin price prediction expects Apecoin to resume its strong bullish push in the next few trading sessions. There is a high likelihood that we will see prices starting to rise again and an $8.5 price level will likely be hit by the bullish push. My analysis will, however, be invalidated should the price trade move below this week’s price low of $5.42.