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Tag: APEUSD

  • Apes give up as ApeCoin (APE/USD) now stares at a possible drop below $3

    Apes give up as ApeCoin (APE/USD) now stares at a possible drop below $3

    • ApeCoin has lost the battle at the resistance of $4.2

    • The cryptocurrency has been hit by the general weak crypto sentiment

    • APE could drop to $3 if the bear pressure mounts

    ApeCoin (APE/USD) traded at $3.5 as the cryptocurrency came under bear pressure from the $4.2 resistance. Buyers have been defending the $4.2 resistance for some time, giving hopes of a potential breakout and the start of a bull market. Apes seem to have now been defeated as the cryptocurrency looks at a possible decline to $3.

    Recent strengths in ApeCoin coincided with the launch of the staking feature earlier this month. Despite witnessing a lot of success, the users of the staking service have been warned of numerous phishing attacks. Horizen Lab, the developer of the staking feature, has told users to only use the official link, ApeStake.io, for the service.

    Nonetheless, from the price outlook, APE seems to be getting hit by the overall crypto sentiment. The decline comes despite Ape-coin-linked NFTs continuing to record leading sales volumes. A technical outlook shows APE still trapped in a descending channel.

    APE slides from $4.2 resistance as weakness develop

    APE/USD Chart by TradingView

    APE initiated a bearish MACD crossover on the daily chart. The indicator has shifted to the negative territory after the latest price decline. 

    The cryptocurrency now trades below $4.2 resistance after bears took control. APE price has now crashed back to the descending channel. The price is gaining stability at $3.5, but the established support lies at $3.0.

    Concluding thoughts 

    If bulls do not take control of APE at $3.5, the next decline could take the cryptocurrency to $3.0. APE price must overcome resistance at $4.2 and the descending channel to become bullish.

    Where to buy APE 

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy APE with eToro today

    Public

    Public is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.


    Buy APE with Public today

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  • ApeCoin (APE/USD) staking launches with a thud! Will bulls overcome relentless bears?

    ApeCoin (APE/USD) staking launches with a thud! Will bulls overcome relentless bears?

    • ApeCoin gained 3% on Friday and remains green over the week

    • ApeCoin will start to issue staking rewards on December 12

    • The cryptocurrency faces resistance approaching the upper limit of descending channel

    ApeCoin (APE/USD) staking functionality is no longer a dream – it’s a reality. Staking rewards are set to begin on December 12. Apes are making merry as the staking service launches with a thud, just like the APE airdrop.

    ApeCoin staking launched on December 5, much to the excitement of its communities. In just one day after the launch of the staking feature, $32 million worth of APE was deposited in the staking contract. Stakers are now expecting the rewards in a few days, with 175 million APEs expected to be distributed in three years. The number represents around 17.5% of the total ApeCoin tokens in circulation. Will the staking feature launch boost the price of APE?

    As CoinJournal previously reported, APE was gaining ahead of the staking service. The gains have cooled, in a typical buy the rumours, sell the news scenario. However, it is not that exactly, as APE had gained by an intraday of 3% as of press time. The cryptocurrency has remained at more than 2% in the past week. Will APE continue with the gains as the staking rewards trickle in? That will depend on the technical changes in APE price.

    ApeCoin trapped in a descending channel amid a bullish push

    APE/USD Chart by TradingView

    On the daily chart, APE trades on the upper limit of the descending channel. The cryptocurrency has been trading at this level for weeks, with bulls getting rejected. The price action is, however, looking increasingly bullish, as shown by a continued push to break higher.

    What to watch next for APE?

    A breakout at the upper limit of the descending channel is the key event for ApeCoin next. The breakout will see APE price also overcome a crucial resistance at $4.2.

    A breakout at the descending channel and $4.2 resistance will place APE for recovery to the next resistance at $5.0.

    Where to buy APE

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy APE with eToro today

    Nexo

    Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.


    Buy APE with Nexo today

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  • ApeCoin (APE/USD) hits resistance after a weekly surge

    ApeCoin (APE/USD) hits resistance after a weekly surge

    • ApeCoin has returned 18% in a week.

    • The launch of an NFT marketplace and expected staking feature is boosting the token.

    • Further recoveries will depend on whether a breakout will occur at $4.2.

    ApeCoin (APE/USD) has risen by double digits in the past few days. As of press time, the cryptocurrency was up 18% in a week. APE has now lost an intraday 0.78% as it hit a crucial resistance. The recent launch of an NFT marketplace has been fueling gains alongside an expected staking interface.

    Staking allows users to lock their crypto tokens to a protocol to earn rewards. By staking, users contribute towards the stability of the ecosystem. Beginning December 05, APE staking will go live and pave the way for a pre-deposit. APE holders will start to earn rewards on December 12. The announcement, made on November 23 by Horizen Labs, however, raised criticism over the locking out of users in some territories, including the US. Regulatory concerns were cited as the reason for blocking them.

    Nonetheless, investors could be accumulating APE ahead of the crucial December date. Should this turn out to be a bullish trigger, APE would break out and overcome a prolonged downside. It is still too early to speculate, as we have seen cryptocurrencies reacting ahead of major developments. With that in mind, keeping a tab on the technical side of APE trading would help.

    APE meets resistance and descending trendline

    APE/USD Chart by TradingView

    The long-term technical outlook is bearish for APE. The token’s price is testing the resistance at $4.2, and momentum has weakened slightly. The resistance lies in the same zone as the long-term descending trendline.

    The MACD indicator has turned bullish and shows momentum is building for APE. The RSI is above the midpoint, indicating that the buyers remain in control. 

    Should you buy APE?

    A breakout at $4.2 or the descending trendline would be needed before buying APE. A successful breakout would take the token to $5 and potentially above $6.

    If the breakout fails at $4.2, APE could witness consolidation below the crucial resistance.

    Where to buy APE

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy APE with eToro today

    Nexo

    Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.


    Buy APE with Nexo today

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  • Has ApeCoin (APE/USD) turned bullish after weekly 25% gains?

    Has ApeCoin (APE/USD) turned bullish after weekly 25% gains?

    • ApeCoin token has registered 25% gains in the past one week

    • Bored Ape NFTs continue to attract high prices amid a prolonged crypto winter

    • APE could stay bullish up to the 50-day MA or descending trendline

    With gains of 25% in a week, ApeCoin (APE/USD) is among the top 3 return cryptocurrencies in the #50 rank. The gains come after APE reached a new low of $2.7. The last low for the cryptocurrency was $3.0 in June. APE has now overcome the bottom and was trading at $3.8 as of press time.

    No significant news is influencing APE price, but potential optimism could be crawling back. According to the latest developments, Bored Ape NFTs are in demand. On November 23, an NFT from the Bored Ape Yacht Club collection sold for $950,000 or 800 ETH. The same was made to an NFT collector Keungz, who has multiple of them from Yuga Labs. Another sale between two unidentified wallets was made for nearly $940,000 or 780 ETH. Both sales were made above the current floor price amid a prolonged crypto winter that has hit NFTs.

    Meanwhile, the ApeCoin community DAO has launched its own marketplace for the ecosystem NFTs. The marketplace was launched on November 24. It will support the transactions from BAYC collections, Mutant Ape, Bored Ape, and Otherdeed. These developments could attract attention to the APE token.

    APE on a short-term price appreciation

    APE/USD Chart by TradingView

    A technical outlook shows APE has initiated a short-term recovery. The MACD indicator has shifted above the neutral zone and shows that momentum is improving for APE. The cryptocurrency has recovered above the 20-day moving average.

    However, APE trades below a long-term descending trendline. Also, in the last two previous bullish attempts, APE has been rejected at the 50-day MA. The token now trades near the key moving average.

    What next for APE?

    APE price will continue to rise in the short term as momentum remains in place. However, longer-term recoveries will be determined by whether bulls will push the price above the 50-day MA and descending trendline.

    Where to buy APE

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy APE with eToro today

    Nexo

    Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.


    Buy APE with Nexo today

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