ApeCoin Price Prediction: Growth Expected Despite Recent Controversies

Summary:

Apecoin's price has surged by 20 per cent in the past three trading days resulting in its market capitalization surge of more than 7 percent.

Apecoin’s price has surged by 20 per cent in the past three trading days. Apecoin has also seen its market capitalization surge by more than 7 per cent in the last 24 hours, resulting in the total value climbing to $4.1 billion.

Although Apecoin was launched this month, its rise has been one of the biggest cryptocurrency fairy tales of 2022. The cryptocurrency has risen in ranks from the first day it was launched to achieve an impressive 0.19 per cent market dominance, making it the 41st largest cryptocurrency. Despite recent controversies, this is despite awarding its funder $7 billion worth of tokens.

ApeCoin Price Prediction

ApeCoin’s price has risen by more than 5 per cent in today’s trading session. Apecoin has also seen its price rise by 20 per cent in the past three days. This is a sign of a strong bullish move. Looking at the hourly chart below, prices are trading within the support level of $14.45 and a resistance level of $18. This can help us analyze where we should expect the prices to trade in the coming days. The hourly chart also shows that the bullish move has had momentum since the cryptocurrency was launched.

Using the hourly price chart, I expect ApeCoin to trade at the $18.18 resistance level in the next coming days. The prediction is based on recent price action that has seen ApeCoin rise in three consecutive days. It is also based on the analysis that the cryptocurrency has failed to break a long-term resistance level to the downside. This is despite price corrections that would have seen the prices drop. ApeCoin has also traded with momentum, indicating a potential to continue with the upward move.

However, if the price reverses and goes below the $14.45 support level, my prediction will be invalidated. It will also mean that, although the price may still rise to the $18.18 resistance level, it will not be in the near future.