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Wednesday, December 7, 2022
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    HomeAltcoinApeCoin Price Prediction: RSI Bearish Divergence Hints Price Correction Toward $13.0

    ApeCoin Price Prediction: RSI Bearish Divergence Hints Price Correction Toward $13.0

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    Ape price locks in features for the third straight day on Monday. Nonetheless, bulls lack conviction close to the upper ranges. Additional, the technical indicator signifies minor retracement within the worth earlier than the continuation of the uptrend.

    • APE worth prints recent each day highs on Monday.
    • The upside features capped close to $15.50.
    • Bearish divergence on RSI signifies minor retracement within the worth.

    APE worth pause features

    Supply: Buying and selling View

    Ape worth rises alongside the ascending development line from the lows of $9.51 with an ascent of 35%. The worth examined the bullish slopping line as soon as on March 26, and bounce again to tag the upper degree. This, additionally marked the breach of the important 20-day EMA (Exponential Shifting Common) at $12.85 indicating a bullish underlying present.

    Presently, the APE worth is dealing with upside resistance close to $15.50 on the 4-hour chart. The formation of alternate inexperienced and crimson candlesticks signifies a wrestle between bulls and bears.

    If the value breaks beneath the current help that emerges close to $14.65 then extra draw back within the token can’t be dominated out.

    On transferring draw back, the APE worth would first check $14.0 positioned on the bullish development line adopted by the horizontal help degree at $13.0 degree.

    Intense promoting stress would possibly expose the lows of March 26 at $12.24.

    Quite the opposite, if the value manages to maintain the session excessive then it might check the March 18 excessive at $18.0.

    As of press time, APE/USD trades at $14.83, up 4.22% for the day. The 24-hour buying and selling quantity of the token stands at $1,523,925,991 in response to the CoinMarketCap.

    Usually, the rise in worth together with rising quantity is a bullish signal.

    Technical indicators:

    RSI: The 4-hour Relative Power Index confirmed adverse divergence with the value since March 24. Any downtick within the indicator might strengthen the bearish outlook on the value.

    MACD: The Shifting Common Convergence Divergence holds above the midline with a impartial outlook.

     

    Disclaimer

    The offered content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.

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