Apecoin (APE) has faced a consistent downtrend over the last four days. But today, the coin has bounced back and appears to have reversed the downward pressure. APE is however not done yet. More gains could come as whale accumulation continues. Here are the main facts:
APE could add 22% to its value in its recent bull run
The coin could however face selling pressure after crossing $15.
APE is up 10% over the last 24 hours.
Data Source: Tradingview
Apecoin – The bullish setup
After peaking at the $17.46 price back in March, APE has struggled to find any decent momentum. Instead, the coin had started to spiral downwards. But it seems this downward trend is now reversing. In fact, APE was up 10% over the last 24 hours.
This recent bull run could trigger a 22% rally as whales continue to accumulate the coin. RSI also shows that APE is building momentum. As long as the price action remains above $10 in the days ahead, we can expect more gains in the near term.
However, there is some limited upside potential here. In recent days, the range between $14.23 and $15.98 has proved to be a serious sell zone for investors. We don’t expect this to change anytime soon. Although the 22% upswing is very possible, APE is likely to pull back further down the moment it hits the sell zone above.
How to profit from this setup
There isn’t a lot of downside risk right now for APE. After four down days in a row, it seems the coin is poised for better returns. The best entry price will be between $11.5 and $12.5. It is likely that APE will surge past $14 in the days ahead. This would be the perfect time to sell and earn at least 15% in profit.