- ApeCoin price shows a bounce that breached the four-day downtrend, signaling the intention to move higher.
- Investors can expect APE to rally 22% and tag the one-hour supply zone, extending from $14.23 to $15.98.
- A daily candlestick close below $10.64 will invalidate the bullish thesis.
ApeCoin price has shown a major technical confluence of bullish signal that forecasts that good things are bound to happen. Moreover, the crypto market shows good health, making this run-up possible.
ApeCoin price to make a bullish move
ApeCoin price has been on a downtrend since its peak at $17.46 was marked on March 18. A failed attempt set a lower high at $15.58 was witnessed and it has crashed roughly 31% since then. From April 11 to April 14, APE tried to rally again but failed due to the prevailing market conditions.
As a result, ApeCoin price went on a four-day downtrend producing lower highs. Over the last 24 hours, APE has rallied 11% and put an end to this downtrend. Interestingly, the altcoin formed a higher low between April 11 and April 19 while the Relative Strength Index (RSI) produced a higher low, indicating a hidden bullish divergence.
This technical formation suggests that the momentum is rising, hinting that the upcoming move will propel ApeCoin price higher. Therefore, investors can expect APE to rally 22% and tag the $14.43 hurdle, which is present inside the one-hour supply zone, extending from $14.23 to $15.98.
APE/USDT 4-hour chart
Supporting this uptrend forecast for ApeCoin price is the recent accumulation of whales holding 100,000 to 1,000,000 APE tokens. These wallets have increased their holdings from 3.6% to 3.9% since March 28.
This uptick in their holdings indicates that the whales have been accumulating the dip and that they are bullish on the performance of altcoin.
 [06.58.57, 19 Apr, 2022]-637859328012736370.png)
APE supply distribution chart
A daily candlestick close below $10.64 will invalidate the bullish thesis for ApeCoin price by producing a lower low. This move could further invite bears, triggering a 10% crash to $9.64. Here, buyers could accumulate APE at a discount, form a base give the run-up another go.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
EOS 22% pump steals the show unveiling Vaulta’s web3 banking ecosystem
EOS, the token behind the recently rebranded Vaulta network, has increased by a staggering 22% in the last 24 hours.
Curve DAO Price Forecast: CRV bulls could aim for double-digit gains above key resistance
Curve DAO (CRV) price is in the green, up 8%, trading above $0.53 on Thursday after rallying nearly 15% so far this week.
Bitcoin price reacts as Gold sets fresh record highs after Trump’s reciprocal tariffs announcement
Bitcoin price plunges towards $82,000 as Gold soars past $3,150 after US President Donald Trump imposed new tariffs on Israel and UK, triggering global markets turbulence.
Bitcoin and top altcoins slide as Trump kicks off reciprocal tariffs
Bitcoin (BTC) and the entire crypto market saw a quick correction on Wednesday following President Donald Trump's reciprocal tariff announcements based on half of each country's respective rates.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.