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ApeCoin Price Prediction: Triangle Fallout Threatens Second Dip; Opportunity To Buy?

ApeCoin price

ApeCoin Price Prediction: Triangle Fallout Threatens Second Dip; Opportunity To Buy?

As the market continues to consolidate, ApeCoin is fighting for stability near the $1.50 mark. This price has been breached before, but has found success in recovering afterwards. With this latest dip, the risk of a large fall and an opportunity to buy close to $1.10 enters the picture. However, it’s important to note that this dip is not a result of negative news or sudden panic selling as trading during these times are usually far more rational than one might think (unless of course it’s Bitcoin). It’s a sign of how irrational most cryptocurrency traders are.

ApeCoin Price Prediction: Triangle Fallout Threatens Second Dip; Opportunity To Buy?

As the market continues to consolidate, ApeCoin is fighting for stability near the $1.50 mark. This price has been breached before, but has found success in recovering afterwards. With this latest dip, the risk of a large fall and an opportunity to buy close to $1.10 enters the picture. However, it’s important to note that this dip is not a result of negative news or sudden panic selling as trading during these times are usually far more rational than one might think (unless of course it’s Bitcoin). It’s a sign of how irrational most cryptocurrency traders are (although we do see some aggressive shorting going on here and there).

The price of ApeCoin is currently at $1.53 at the time of writing, down from a high of $2.91 recorded on May 25th and slightly up from a low of $1.39 hit on May 28th. As you can see, the price is in a small but significant downtrend with support on the lower end around $1.52 and resistance at $1.60 (a small pullback to this resistance level will be healthy). The current dip was only triggered by selling pressure and nothing else which means that any news or updates are not driving the price down (the market will always react positively towards positive news).

ApeCoin Price Confirmation: Triangle Breakout Not Likely; Indicators Suggest Bearish Reversal?

As the general trend has been up since the beginning of the year, ApeCoin is likely to continue this trend with traders preferring to buy on dips (which is healthy). The recent Delta-adjusted Moving Average Convergence Divergence indicator (MACD) has turned bearish and a break below $1.49 will likely lead to a dip towards $1.05 as that’s where the Fibonacci retracement level lies.

ApeCoin Price Prediction: Triangle Breakout Not Likely; Indicators Suggest Bearish Reversal?

As the general trend has been up since the beginning of the year, ApeCoin is likely to continue this trend with traders preferring to buy on dips (which is healthy). The recent Delta-adjusted Moving Average Convergence Divergence indicator (MACD) has turned bearish and a break below $1.49 will likely lead to a dip towards $1.05 as that’s where the Fibonacci retracement level lies. The RSI and Stochastic are yet to confirm this, but if they turn bearish it may well end in a natural pullback.

ApeCoin Price Alternative: Stochastic, RSI Signal Decline To $1.03; Triangle Breakout Likely?

ApeCoin is caught in a consolidating triangle. As such, it’s not likely to break out and there’s a better chance to buy around the retracement level at $1.03 than at $1.50 (we don’t have a very clear picture here as we’ve seen positive signs from RSI and Stochastic in the past). In case of a break and pullback, we will likely see a similar position as it currently stands.

ApeCoin Price Prediction: Triangle Breakout Likely To $1.80

ApeCoin is expected to hit a new high near the $2.00 mark in the long term. This price was tested a few times but seems to be holding on with very little sell pressure around this level (mostly due to the low trading volume). Furthermore, with support on the lower end at around $1.50, ApeCoin has nothing but room to grow as it could test $1.

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