ApeCoin Token Price Levels

ApeCoin Token (APE) is one of the most sought after metaverse projects in the cryptocurrency space since its launch on March 17, 2022. This year ApeCoin Token had reached an all time high of $27.76 following the parabolic rally on the 28th April.

Like many other altcoins ApeCoin has now corrected 89% from it’s market cycle top. ApeCoin Token printed a swing-low to $3.04 on the 15th June and since then has bounced over 39% to current prices of $4.30.

Will we see continuation to the upside for ApeCoin Token? ApeCoin is listed on eToro.

Cryptoassets are a highly volatile unregulated investment product.

ApeCoin Token Price Prediction 2022

At the time of writing this article ApeCoin is trading within a giant symmetrical triangle. Since Bitcoin crossed the 200-week moving average there has been strong opportunity for accumulation.

If ApeCoin Token can break through the upper resistance trendline of $5.26 the technical target would be around $7.51. Although we are likely to see rejection at $5.26 due to the bearish sentiment in the market at the moment.

Current prices could still offer traders a good opportunity to take advantage of a long position to the resistance trendline if ApeCoin Token achieves more positive price momentum. $4.18 is a key level of support which ApeCoin Token must respect in order to avoid further downside movement.

ApeCoin Descending Channel Pattern

ApeCoin Token (APE-USDT) – 4 Hour Time Frame

Zooming in to the symmetrical triangle pattern ApeCoin Token has just recently broken out of a broadening descending channel. We can also see the last red candle has a very large lower wick. This reflects volatility and large buying pressure at the support trendline. We could still see continuation to the upside here for ApeCoin Token.

ApeCoin Token Video Analysis

ApeCoin Token is one of the biggest metaverse projects within the cryptocurrency sector. For 2022 I expect ApeCoin Token to be chopping around the $5.40-$7.00. Naturally all-time highs will not occur as we sail on deeper into the crypto winter.

Coinmarketcap states that ApeCoin (APE) is currently ranked #36 and has a market capital of $1.28 billion. The market capital all time high for ApeCoin Token prior to the crash was $7.46 billion. I speculate we will see somewhere between $10-20 billion by the next crypto bull run.

What is ApeCoin Token?

ApeCoin is an ERC-20 governance and utility token which fuels the APE ecosystem to help invigorate a decentralized community. According to the ApeCoin team web3 is at the forefront of their minds.

In addition to this ApeCoin has various use cases such as enabling holders to participate in the governance of the DAO. This enables the ApeCoin network users to access exclusive features of the ecosystem such as games, services, merchandise and more.

I personally believe ApeCoin has a massive advantage because it has been forged by a dynamic community and some of the most influential stakeholders within blockchain. Right from the very start ApeCoin was listed on most major centralised exchanges and kicked off with a parabolic rally.

As web3, metaverse, DeFi, play-to-earn and the NFTs umbrella expands the more likely it is users across the metaverse will be using ApeCoin which will also boost the coins value.

There are a hybrid of good reasons to invest in ApeCoin Token during the crypto bear market. ApeCoin Token can be used for payments, NFT rewards, access exclusive features on the ecosystem too. One thing I would note is that only 30% of the total supply is currently in circulation however.

You can acquire ApeCoin on the eToro platform.

Cryptoassets are a highly volatile unregulated investment product.


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