ApeCoin (APE) Price Prediction 2024: Could APE Renew the Bullish Trend?

The ApeCoin price prediction shows that APE could renew the bullish trend after testing the support level of $0.59 today.

The ApeCoin price recovered from a recent low and is now aiming to cross above the 9-day moving average. However, the coin is facing a downtrend resistance that has capped the price movement in the past. But, a recent attempt to break through this resistance resulted in a temporary breakout before the price was pushed back down.

ApeCoin Price Prediction: Key Levels to Watch

The ApeCoin price is now facing a critical resistance level formed by a downtrend line that has repeatedly rejected the price movement in the past. However, a recent attempt to break through this resistance resulted in a temporary breakout, but the price was ultimately pushed back down, indicating the strength of this resistance. Moreover, the current price movement is once again testing this resistance level, making it a key area to watch.

If ApeCoin manages to break through this downtrend resistance, the next price levels to consider are the channel’s upper boundary and a long-term price resistance that was previously support. This price point is around $0.70, where a breakout could lead to a significant price movement.

On the other hand, if ApeCoin fails to break through the downtrend resistance and 9-day moving average, the coin is likely to encounter support at the lower boundary of the channel, followed by the 21-day moving average. Further support levels lie at round numbers of $0.35, $0.25, and $0.15.

APE/BTC Faces the South

Against Bitcoin, the ApeCoin is seen moving bearishly, aiming to cross below the 9-day moving average. Any further bearish movement could lead the coin to the nearest support at 900 SAT, after which it could hit the critical support at 760 SAT and below.

Nevertheless, should the buyers return to the market, the ApeCoin price could make a bullish cross above the upper boundary of the channel to hit the resistance level of 1300 SAT and above. Additionally, the 9-day MA may also need to cross above the 21-day MA to increase the bullish movement.

ApeCoin Analysis: Related Coin

Both ApeCoin (APE) and PlayDoge ($PLAY) present attractive opportunities in the cryptocurrency sector. At the present moment, ApeCoin is recovering from a recent low and is now aiming to cross above the 9-day moving average.

On the other hand, PlayDoge is best described as a meme coin, given its thematic connection to Dogecoin and meme culture. However, the project is positioning itself as a play-to-earn (P2E) Doge companion game, which has already attracted attention and is currently offering 50% of the token supply at an early stage.

Both coins offer different value propositions and are catering to distinct segments of the crypto market. Ultimately, the choice between them depends on an individual's investment goals, preferences, and risk tolerance.

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