ApeCoin Price Prediction – June 11
The present trading situation has recorded the APE/USD market features tinier lower lows in range zones. Price has been predominantly trading around the $5 support line, making no difference between high and low-value lines at a maximally minimal percentage rate of 0.01 positive.
ApeCoin (APE) Price Statistics:
APE price now – $5.21
APE market cap – $1.5 billion
APE circulating supply – 292.2 million
APE total supply – 1 billion
Coinmarketcap ranking – #36
Resistance levels: $10, $13, $16
Support levels: $5, $4, $3
APE/USD – Daily Chart
The trading chart showcases that the crypto market features lower lows in range zones. The upper range line is at the $10 resistance level, and the lower range is at the $5 support level. The 14-day SMA indicator is southward above the lower range-trading spot underneath the 50-day SMA indicator. The Stochastic Oscillators are dipped into the oversold region, seemingly attempting to cross the line back to the northbound in the near time.
Will there be more losses as the APE/USD market currently trades around the $5?
The subsequent losses that can occur beyond the $5 lower range-trading level aren’t likely to sustain the force to the downside in the long-term run as the APE/USD price features lower lows in range zones. As a result, long-position takers may have to be on the lookout for when there’ll be a pull-up in against further fall-offs before considering a buying order. On the contrary, traders can determine to start executing a buying order at this spot, provided they’ll keep to the principle of not over-leveraging their positions.
On the downside of the technical analysis, as the APE/USD market has been dipping underneath the sell signal side of the 14-day SMA trend line, it may not leave out of it soon. The trading situation has reached an in-depth deep-shallow trading zone in which the price may not keep reliably further below the $5 support level. Even if the trade consolidates around the value line may not yield positive results. And, a fearful rebound is liable to resurface around the point in no time.
APE/BTC Price Analysis
ApeCoin hasn’t been able to end featuring lower lows in range zones. The upper range line drew alongside the 50-day SMA indicator above the 14-day SMA indicator. The formation of trading candlesticks has been in sequential order to the downside direction within the range-bound zones. The Stochastic Oscillators are down in the oversold region close to the range of zero. That suggests the base crypto may soon find support to build up from against the counter crypto.
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