Crypto News – Since November, the ApeCoin price has made multiple attempts to test the resistance zone of $1.50 but has failed to do so. Today, APE dropped below the region once more, having touched a high of $1.59 yesterday.
Breaking News: ApeCoin Price Rises to $1.55 Today, Investors Excited About $2 Prospect
After hitting a new all-time low of $1 on October 9, the ApeCoin price has subsequently rebounded. Up until November 18, when it was most recently validated, the gain followed a parabolic ascending support trend line (green icon).
The price of APE experienced a significant upswing following the validation, surpassing the $1.35 horizontal resistance zone. Due to this, the high today was $1.56. Though APE broke over the $1.50 resistance, it failed to close above it. On the contrary, it produced an extended, higher wick (red icon). Within this resistance area, three such wicks have been made thus far.
What Happens to the APE Price in the Future, According to Investors and Analysts?
The future APE price trend is expected to be favorable, according to cryptocurrency traders and analysts on X, because of the continuous increase. A breakout from a long-term descending resistance trend line, in Sheldon_Sniper‘s opinion, will cause the increase to pick up even more speed.
In line with this bullish forecast, Tyrion Trades predicts that the price of ApeCoin will rise above $2 while looking at sideways levels to predict when the APE price will peak and accelerate.