ApeCoin has been demonstrating a very strong performance compared to the rest of the NFT sector. According to analysts, if the uptrend being experienced is valid and may stay put for long, then ApeCoin will demonstrate strong performance.
It is predicted that if ApeCoin keeps gaining momentum, then the trading price of APE may continue breaching strong resistance markets. The trading price of ApeCoin may also end up going through multiple consolidation phases.
Analysts Predict ApeCoin May Grow Stronger
In recent days, the cryptocurrency sector has continued to face a dreadful situation. The cryptocurrency sector visited a constant crash. Despite the trend, ApeCoin seems to have moved in the opposite direction.
It has continued demonstrating a strong move into the bullish side. The price of ApeCoin has continued catapulted higher. Even now, the investors are investing in favor of a positive trend of the token.
In the past 24 hours, ApeCoin has experienced a 50% growth, elevating its price from a low of $3.11. At the time of writing, the trading price of ApeCoin is worth almost $4.35.
The Upcoming Situation for ApeCoin
If the bears are to attempt and pull the trading price of ApeCoin, they will need to demonstrate a strong impulse. Despite ApeCoin being able to demonstrate strong growth in recent days, the bears have the trend in their control.
They will have to demonstrate strong selling power in order to force the trading price of ApeCoin down to $3.11. However, if the bears end up failing, the next rally would prove to be extremely crucial for the bulls.
They will be able to form a strong rally and push the trading price of ApeCoin on a larger scale. The moment will be extremely favorable for the bulls, resulting in the price of ApeCoinbeing pushed significantly higher.
ApeCoin’s Journey to $12.00
If the bulls are able to keep the rally running, then the trading price of ApeCoinmay get pushed into the initial resistance zone. According to statistics, the trading price of ApeCoin may end up in the range of $5 to $6.
If the bulls end up breaching these targets, they will be able to move on to the next target. Once again, the bulls will be required to form a strong rally and this time, their efforts may push APE to $8.
With a constant rise in the buying power of the investors, APE’s next trading price would be $10.50. Going forward, the investors may continue adding more buying power to the cause, which may push the trading price of APE all the way up to $12.00