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Technical Analysis Suggests APE Price Hasn’t Turned Down Yet By CoinQuora

© Reuters. Technical analysis suggests that the APE price has not yet fallen

  • ApeCoin (APE) price fell nearly 10% in the past 24 hours to $12.34.
  • The price of APE has also fallen sharply over the past 7 days, dropping double digits by around 50.42%.
  • The 8 EMA also broke below the 20 EMA to signal a short-term bearish cycle which may suggest that the APE price has not yet finished falling.

The price of ApeCoin (APE) fell nearly 10% in the past 24 hours to $12.34, according to CoinMarketCap.

The price of APE has also fallen sharply over the past 7 days, dropping double digits by around 50.42%. The 24-hour chart is a continuation of the coin’s weekly price trend as APE price continues its descent dropping 9.52% in the past 24-hours.

Ranked number 33 on CoinMarketCap’s list of largest cryptocurrency projects by market capitalization, APE’s market capitalization currently stands at $3,525,294,165. APE’s daily trading volume also dropped by double digits as it decreased by 38.87%. The 24-hour trading volume for APE stands at $1,033,677,172.

The APE price is closer to its low set in the last 24 hours. Its 24-hour high is $13.70 and its 24-hour low is $12.28.

APE price has also weakened against (BTC) and (ETH) by around 7.49% and 6.29% respectively at the time of writing. Currently, APE is worth approximately 0.0003453 BTC and 0.004644 ETH.

APE price falls after APE trend (Source: TradingView)

The price of APE has fallen significantly since its all-time high of $28 near the end of April when looking at the daily chart of APE/USDT.

The 8 EMA also broke below the 20 EMA to signal a short-term bearish cycle which may suggest that the APE price has not yet finished falling. The RSI 14 is also tilted towards oversold territory as it currently sits at 43.55 at the time of writing.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of CoinQuora. Nothing in this article should be construed as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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