Technical Analysis Suggests That APE Price Not Done Falling Yet
2022.05.07 15:15
Technical Analysis Suggests That APE Price Not Done Falling Yet
- The price of the ApeCoin (APE) has dropped almost 10% in the last 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 8 EMA has also crossed below the 20 EMA to signal a short-term bear cycle which may suggest that the price of APE is not done falling yet.
The price of the ApeCoin (APE) has dropped almost 10% in the last 24 hours to $12.34, according to CoinMarketCap.
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. The daily trading volume of APE has also dropped by double digits as it decreased by 38.87%. The 24 hour trading volume for APE totals $1,033,677,172.
The price of APE 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’s price has also weakened against Bitcoin (BTC) and Ethereum (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’s price tumbles after APE trending (Source: TradingView)
The price of APE has dropped quite a lot since its all-time high of $28 towards the end of April when looking at the daily chart for APE/USDT.
The 8 EMA has also crossed below the 20 EMA to signal a short-term bear cycle which may suggest that the price of APE is not done falling yet. The RSI 14 is also sloped towards oversold territory as it currently stands at 43.55 at the time of writing.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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