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ApeCoin Token Sees 25% Gain Over the Past Week
Boring Monkey NFTs continue to soar amid prolonged crypto winter
APE can remain bullish to 50-day MA or downtrendline
ApeCoin (APE/USD) Gains 25% in One Week, Joins Top 3 Returns Cryptocurrency Ranked in 50th place. The move up comes after APE reaches his new low of $2.7. The latest low in crypto was his $3.0 in June. APE has now broken bottom and is trading at $3.8 at the time of writing.
There is no significant news to affect the price of APE, but optimism is likely to return. On November 23, his NFT from the Bored Ape Yacht Club collection sold for his $950,000 or 800 ETH. The same was done for Keungz, who has several of his NFT collectors from Yuga Labs. Another transaction between two of his unidentified wallets was for around $940,000 or 780 ETH. Both sales are above current lows during the prolonged crypto winter that has hit NFT.
Meanwhile, the ApeCoin community DAO has launched its own marketplace for ecosystem NFTs. The Marketplace He launched on November 24th. Supports transactions from BAYC collections, Mutant Ape, Bored Ape, and Otherdeed. These developments may draw attention to the APE token.
The technical outlook indicates that APE has started a near-term recovery. The MACD indicator has moved above the neutral zone, showing that APE’s momentum is improving as the cryptocurrency has rebounded above his 20-day moving average.
However, APE has broken below the long-term downtrend line. Also, in the last two bullish attempts, APE has been rejected at his 50-day moving average. The token is currently trading near the major moving averages.
ape price It will continue to move higher in the short term as the momentum is maintained. However, a long-term recovery will depend on whether the bulls push the price above his 50-day moving average and the downtrend line.
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