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ApeCoin commences a bullish movement
APEUSD Price Analysis – October 27
A breakup at the resistance level of $5.2 by the buyers will expose ApeCoin to $5.9 and $6.4 resistance levels. In case the bullish momentum fails, bears will take over, below the current price level are found support levels at $4.5, $4.1 and $3.2.
Key Levels:
Resistance levels: $5.2, $5.9, $6.4
Support levels: $4.5, $4.1, $3.2
APE/USD Long-term Trend: Bullish
APE/USD is on the bullish movement in the daily chart. The bears could not continue on the bearish trend embarked upon last three weeks. When the price was pushed to the support level of $4.5. The bearish momentum failed. Buyers gained momentum and the coin is pushing up to the resistance level of $5.2 which is the next level.
The Relative strength index Period 14 on the daily chart is at 50 levels with the signal line pointing upwards which indicate a strong bullish signal. A breakup at the resistance level of $5.2 by the buyers will expose ApeCoin to $5.9 and $6.4 resistance levels. In case the bullish momentum fails, bears will take over, below the current price level are found support levels at $4.5, $4.1 and $3.2.
APE/USD Price Medium-term Trend: Bullish
The ApeCoin is bullish on the medium-term outlook. The price moved downward with the formation of more bearish candles when it was rejected at the resistance level of $6.4 on 21 September. The support level of $4.1 was tested and the price bounced. The price is currently increasing towards $5.9 level.
The 9-day EMA has crossed the 21-day EMA upside with the price trading above the two EMAs, confirming the bullish movement. Should bulls continue to increase their momentum, ApeCoin price will increase further. The relative strength period 14 is at 55 levels with the signal line pointing up which connote buy signal.
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