Apecoin Price has continued to outperform the cryptocurrency market at a time when almost the entire industry is in turmoil and losing value. Apecoin is up by 2 per cent in today’s trading session, extending yesterday’s bullish trend. The current bullish trend has also lasted since June 15th, resulting in Apecoin value going up by 90 per cent to date.
Since its launch, Apecoin has also continued to gain traction with users. This is despite the Non-fungible token industry undergoing a long period of a bear market. Today, Apecoin continues to average over half a billion in trading volume, with most trading sessions seeing huge surges.
For instance, in the past 24 hours, Apecoin’s total trading volume has surged by 50 per cent, totalling $629 million. Such a huge surge, in most cases, can result in the prices of digital assets surging in the markets, as we see with Apecoin.
The chart below shows prices of Apecoin have traded in a long-term bullish trend since June 15th. Since the current bullish trend started, the prices have risen by 90 per cent, and at some point, it was as high as 150 per cent.
Today, even as the current bullish trend continues, its momentum and volatility in the markets continue to dip. The result has been a slow bullish moving trend since September 7, which most recently has started to form a horizontal market.
Therefore, using the price action of the past few trading session, we are likely to see a continuation of the current low volatility sideways market for the next few sessions. However, the long-term push to the upside is likely to continue remaining dominant, which is likely to see prices surging to trade above the $7.7 price level. Another point of view is for prices to hit the resistance level but fail to continue with the bullish trend. A trade below the $3.1 support level will invalidate my analysis.
This post was last modified on %s = human-readable time difference 16:54