ApeCoin Price Prediction for Today, January 28 – APE Technical Analysis

The ApeCoin price prediction reveals that APE is moving bullishly with a gain of 2.35%, as the coin prepares for a bullish cross.

APE to Amplify Gains Amidst a Renewed Theme Energizing Social Metrics

ApeCoin (APE) price is currently undergoing a rebound following a period of consolidation, even amidst the impact of Bitcoin (BTC) exchange-traded funds (ETFs) on other altcoins. As interest in the metaverse and gaming narrative intensifies, APE seems to be garnering support to counter increasing selling pressure. Additionally, positive social dominance and volume metrics are bolstering altcoins, especially as the gaming narrative gains momentum.

ApeCoin Prediction Statistics Data:

• ApeCoin price now – $1.42
• ApeCoin market cap – $509.7 million
• ApeCoin circulating supply – 368.5 million
• ApeCoin total supply – 1 billion
• ApeCoin Coinmarketcap ranking – #105

APE/USD Market

Key Levels:

Resistance levels: $1.75, $1.85, $1.95

Support levels: $1.10, $1.00, $0.90

APE/USD is seen trading in the green at the time of writing as the coin gets ready to face the upper boundary of the channel with a gain of 2.35%. According to the daily chart, the candle formation may begin to follow the upward movement but sliding below the 9-day and 21-day moving averages might position the ApeCoin price toward the south, and the closest support level is located around the $1.39 level.

ApeCoin Price Prediction: ApeCoin Price May Spike to the Upside

The ApeCoin price is currently hovering above the 9-day and 21-day moving averages. However, an increase toward the upper boundary of the channel could trigger intense buying to the resistance levels of $1.75, $1.85, and $1.95 respectively. On the contrary, the ApeCoin price may likely hold a support level at $1.35 which could be the daily low. Therefore, if the ApeCoin price drops below this support level, it may likely hit the closest support at $1.20.

Meanwhile, the critical supports could be located around $1.10, $1.00, and $0.90 if the selling volume keeps increasing. Nevertheless, the 9-day moving average remains below the 21-day moving average revealing that the market may gain more upwards if faces the north.

APE/BTC Heads to the North

In the Bitcoin market, buyers are anticipated to drive the price of ApeCoin above the 9-day and 21-day moving averages. Furthermore, the nearest resistance level from the upside might surpass the upper boundary of the channel at 4100 SAT and above, as buyers regain momentum in the market.

Looking at the downside; the nearest level of support is 3000 SAT, if the price drops further to create a new low, lower support could be found at 2700 SAT and below. Furthermore, if the 9-day MA remains above the 21-day MA, this could confirm that the market may follow the upward movement.

Meanwhile, Irtaza Ali also mentioned to his 8.8k followers in his X account that the confirmation of a breakout and subsequent retest of a multi-year descending trend line for ApeCoin (APE) has occurred. Therefore, traders should expect a notable bullish surge in the weeks ahead and also to stay vigilant and watch closely.

$APE #UPDATE

A breakout and retest of a multi-year descending trend line have already confirmed. Expecting a significant bullish rally in the coming weeks. Keep an eye on #Ape. 📈#Bullish pic.twitter.com/YXO2fMPe9V

— Irtaza Ali (@irtaxa17) January 27, 2024

Alternatives to ApeCoin

ApeCoin (APE) is currently trading above the 9-day and 21-day moving averages, trending towards the upper boundary of the channel. Bullish pressure could sustain the upward trajectory, but breaching the channel’s lower boundary might signal a downturn. The closest support level is approximately at $1.35. With a market cap of $509.7 million, ApeCoin holds the 105th position in the crypto market. Simultaneously, the Bitcoin Minetrix token, with nearly $9.6 million secured in its presale, presents an enticing investment opportunity to capitalize on potential returns in the cryptocurrency asset class.

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However, Bitcoin Minetrix (BTCMTX) stands out as an exceptional alternative to Bitcoin. Remarkably, this token has garnered nearly $6.7 million during its presale, prompting traders to explore investment opportunities.

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