The ApeCoin (APE) price has gone up by 3.36% to $4.59, which is a big jump after it dropped and people started selling it over the past 24 hours.
This optimistic outlook is backed up by the fact that the market capitalization went up by 2.57% to $1,405,952,955. But the number of trades in one day fell by 6.1% to $243,266,210.
The 1-day price chart for APE/USD (Source: CoinMarketCap)
On the 2-hour price chart, the bullish trend is supported by price movement toward the upper Bollinger Band. The top of the Bollinger Band is at 4.618, and the bottom is at 4.189. When the BB gets bigger, it means that the market is more volatile and that a breakout is more likely.
With a reading of 0.011, the Moving Average Convergence Divergence (MACD) has crossed the signal line and moved into positive territory in the last few hours. The histogram is also in the positive range, which backs up this feeling of optimism. These changes show that the APE market will remain optimistic for the time being.
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Since a Rate of Change (ROC) reading above zero indicates a positive trend, the fact that the ROC in the APE price chart has a score of 5.75 and points north shows that the price of APE is going up.
The 2-hour price chart for APE/USD (Source: CoinMarketCap)
When the 5-day MA goes up above the 20-day MA, this is called a “bullish crossover” on a 2-hour price chart. The average for the last 5 days is 4.532, and the average for the last 20 days is 4.405. The fact that the price went up above both MAs adds to the good outlook for the APE market.
The 2-hour price chart for APE/USD (Source: CoinMarketCap)
The bulls are in charge of the ApeCoin (APE) market now that there are more bulls than bears.
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