{"id":14327,"date":"2022-04-20T02:36:09","date_gmt":"2022-04-20T02:36:09","guid":{"rendered":"http:\/\/egrowonline.com\/?p=14327"},"modified":"2022-04-20T02:36:09","modified_gmt":"2022-04-20T02:36:09","slug":"this-altcoin-could-soon-be-ape-ing-to-rally-by-20","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=14327","title":{"rendered":"This altcoin could soon be APE-ing to rally by 20%"},"content":{"rendered":"


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ApeCoin\u2019s price shows an interesting technical outlook as it approaches a crucial hurdle. A swift move above this barrier could trigger an uptrend, one that is likely to set a base and make a run for the all-time highs.<\/span><\/p>\n

ApeCoin price ready for recovery?<\/strong><\/h4>\n

APE\u2019s price has dropped massively since its all-time high of $17.46 on 18 March. Although the initial hype faded, the drop cauterized at around $10.60. After setting up a swing low around this level, APE rallied to roughly $15 and set a local top on 28 <\/span>March.<\/span><\/p>\n

Since this point, ApeCoin\u2019s price has been hostage to these barriers, ranging from $10.68 to $15. More recently, APE has been hovering between the $12.4 and $10.60 barriers. However, the recent spike in buying pressure has been trying to push the altcoin above the $12.40-hurdle. If successful, it could signal a resurgence of buyers and potential base that could kick-start a higher move.<\/span><\/p>\n

Interestingly, APE has rallied roughly by 11% in the last 24 hours by setting two higher lows at $10.60 and 11.05 on 11 April and 19 April, respectively. Since the Relative Strength Index (RSI) has produced a higher low on the same days, it reveals a hidden bullish divergence.<\/span><\/p>\n

Such a technical formation is often followed by a burst in the price action and is referred to as hidden divergence. This, since the RSI is heading lower, which could be confused with declining momentum.\u00a0<\/span><\/p>\n

If this buying pressure continues, there is a good chance APE will rally by 20% and tag the $15-hurdle.<\/span><\/p>\n

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Source: APE\/USDT on TradingView<\/p>\n<\/div>\n

A matter of supply?<\/h4>\n

Since its inception on 17 March, the number of whales holding between 100,000 and 1 million APE tokens has increased to 154. Despite the recent crash in price from its all-time high of $17.46 to $10.50, the number of investors increased from 149 to 154, indicating that these investors are expecting bullish performance from APE.\u00a0<\/span><\/p>\n

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Source: Santiment<\/p>\n<\/div>\n

However, things could turn sour for the NFT-related coin if there is a massive flash crash in Bitcoin\u2019s price. In such a case, a daily candlestick close below $10.50 will create a lower low and deviate below the range low and put an end to the bullish outlook for ApeCoin\u2019s price. In such a case, APE could slide lower in search of stable support levels until sidelined buyers step in.<\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ApeCoin\u2019s price shows an interesting technical outlook as it approaches a crucial hurdle. A swift move above this barrier could trigger an uptrend, one that is likely to set a base and make a run for the all-time highs. ApeCoin price ready for recovery? APE\u2019s price has dropped massively since its all-time high of $17.46 […]<\/p>\n","protected":false},"author":1,"featured_media":14328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[349,7407,213],"class_list":["post-14327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoin","tag-apeing","tag-rally"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/04\/chimpanzee-1545010_1280-1000x600.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14327"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14327\/revisions"}],"predecessor-version":[{"id":14329,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/14327\/revisions\/14329"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/14328"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14327"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}