Despite the waning popularity of metaverse coins, a specific coin is showing promising signs. According to analysis, this coin has reached a crucial level. If it surpasses this level, it may exhibit an increase of approximately 250%.
Let’s delve into it together! Please note: This content is for informational purposes only and does not contain any investment advice.
The metaverse coin in focus is ApeCoin!
The APE community is robust and reputed for its successful endeavors. Currently, ApeCoin is starting to emit bullish signals. How do we interpret this? Let’s examine the charts, price analysis, and other details together!
Following the May-June decline of ApeCoin, prices indicate a resurgence!
Since May, ApeCoin (APE) has depreciated over 65%. With this drop, a new low price was established at three dollars. However, a possible upward trend from the $3.2 support could pose a challenge to this resistance trendline, opening up a recovery possibility.
Could this mark the end of the downward trend line?
Furthermore, the ApeCoin (APE) chart is demonstrating lower highs during the consolidation phase, indicating an increase in bearish momentum. On June 10, altcoin investors lost the $5.1 support and plunged 37% to 3.13. Over the past week, the altcoin chart has exhibited several low-price rejection candles at the $3.2 support, pointing to a high-demand zone. A potential bullish reversal could increase the APE price by an additional 20% and retest the descending trendline.
A surge of approximately 250% could be observed if the resistance is shattered!
With the trendline break and overcoming of resistance, the chart suggests a surge of nearly 250%. According to the chart, it’s plausible to reach the $9.5 level. Conversely, if there’s a reversal from dynamic resistance, the prevailing trend will likely resume and bring the price back to the $3.1 level. The RSI slope has managed to leave the oversold zone and has rebounded over the past 20 days.
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