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Technical Analysis Suggests That APE Price Not Done Falling Yet -Breaking

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© Reuters. The Technical Analysis suggests that the APE price is not yet falling
  • Price of ApeCoin (APE), has dropped nearly 10% over the past 24 hour to $12.34
  • APE’s price has also fallen heavily in the last 7 days, dropping by double digits by around 50.42%.
  • In addition, the 8 EMA also crossed under the 20 EMA. This may indicate a short-term bear market that could suggest APE prices are not yet falling.

CoinMarketCap reports that the ApeCoin’s price dropped nearly 10% over the past 24 hours, to $12.34.

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

Ranked number 33 on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, APE’s market cap currently stands at $3,525,294,165. APE’s daily trading volume also fell by 38.87%. The 24 hour trading volume for APE totals $1,033,677,172.

APE prices are closer to their lowest level in the past 24 hours. Its 24-hour high is $13.70 while its low is $12.28.

APE’s price has also weakened against (BTC) and (ETH) by around 7.49% and 6.29% respectively at the time of writing. APE currently has a value of 0.0003453 BTC, and 0.004644 Eth.

APE’s price tumbles after APE trending (Source: TradingView)

APE’s price has fallen a lot from the $28 record at the beginning of April. This is reflected in the APE/USDT daily chart.

Also, the 8 EMA crossed below the 20 EMA in a signal of a bearish cycle. This could indicate that APE’s price is still falling. The RSI 14 slopes towards the oversold zone at 43.55, as it stands right now.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. The information contained in this article shouldn’t be taken as advice. CoinQuora urges users to conduct their own research prior to investing in cryptocurrency.

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