The ApeCoin price surged 50% in the last 24 hours to trade at $1.48 as of 00:19 a.m. EST on trading volume that skyrocketed 336% to $2.7 billion.
This comes after ApeCoin announced the official launch of the project’s bridge, ApeChain. The bridge will work similarly to other online crypto bridges, allowing users to connect their wallets and swap certain digital assets.
The available networks on the bridge are now ApeChain, Ethereum, and Arbitrum.
ApeCoin Price Indicators Support The Sustained Bullish Stance
According to data from GeckoTerminal , the ApeCoin price was in a consolidation phase in October, as it was trading within the $0.74 range.
The price has experienced a major bullish breakout, with a significant jump of 139.30% (as shown by the vertical arrow highlighting the price range). The recent candles show a significant surge from around $0.74 to over $1.50. However, the red candle suggests some retracement or cooling-off period after the peak.
The continued price surge has driven the price of ApeCoin to trade above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the bullish rally.
The Relative Strength Index (RSI) is in overbought territory, currently at 86 (above 70). An RSI above 80 often indicates extreme overbought conditions, suggesting the asset may be due for a pullback or consolidation. This aligns with the recent red candle and retracement from the peak.
Moreover, the Moving Average Convergence Divergence (MACD) line is above the signal line, indicating bullish momentum, but the lines are starting to converge, which could suggest weakening momentum.
APEUSD Chart Analysis Source: GeckoTerminal.com
ApeCoin Price Prediction
According to the ApeCoin price analysis on the 4-hour timeframe, APE is currently on a sustained bullish rally, which the bulls aim to sustain, as they capitalize on the positive price indicators.
If the bulls sustain the current price, the ApeCoin price could surge even more, as the bulls aim for a new resistance around $2.0.
However, the price seems to be correcting, as even the RSI seems to be dropping. If the correction continues, support could be found on the 50-day SMA ($0.8441) and 200-day SMA ($0.7835).
As the Apecoin price soars, investors are also piling into the new meme token Crypto All-Stars (STARS) , which has just crashed past $2.5 million raised in its presale.
ClayBro, a prominent crypto analyst with over 130K subscribers, says PEPU has the potential to soar 26x after its launch.
Crypto All-Stars Heads For $3 Million
C͏rypto All-S͏t͏a͏r͏s is an innovative project that b͏ring͏s the M͏emeVault eco͏syste͏m to the cryp͏to wor͏l͏d, enabling hold͏ers o͏f multiple top mem͏e c͏oins to͏ stake their tokens together on a single platform, earning rewards in $STARS.͏
Eleven meme coins can be staked from the outset: Dogecoin, Shiba Inu, Pepe, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months.
You can also earn passively through the project’s native staking mechanism, which offers a huge 594% annual percentage yield (APY).
You can buy the token now for $0.0015127. The price will increase in about one day, so act fast to lock in the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card .
Related News
- A How-To Guide on Buying Cryptocurrency Safely in 2024
- Best Crypto Presales to Invest in Now for 10x Gains in 2024
- 5 Best Cheap Cryptos to Invest Now Under 1 Dollar – Mina, Wormhole, Core, Gala
