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  • ApeCoin (APE) makes higher highs and higher lows but will buyers remain relentless

    ApeCoin (APE) makes higher highs and higher lows but will buyers remain relentless

    • ApeCoin had added 20% in a week

    • Yuga Labs NFTs had great success last year

    • The cryptocurrency has overcome resistance at $4.2 but faces a correction

    As most cryptocurrencies generate relief rallies, investors could turn to ApeCoin (APE) for some quick bucks. Since the onset of Ape staking, bullish investors have been trying to break a crucial barrier at $4.2 unsuccessfully. However, the recent price action looks positive as APE trades at $4.66, breaking past the resistance zone. Should this be viewed as a bullish signal?

    According to CoinMarketCap data, ApeCoin has added 20% in a week. The cryptocurrency started the week on a higher note, jumping by an intraday of 12% On Monday. The gains in APE come amid the latest cryptocurrency news showing growing success for ApeCoin’s NFTs. The New Year update showed that Otherdeeds NFTs amassed $49.9 million in loyalties, the best performing in 2022. Other popular NFTs from Yuga Labs, BAYC, and MAYC, generated over $32.3 and $25.6 million in royalties, respectively. 

    Considering how popular Yuga Labs NFTs are, the latest news could have excited APE buyers. That partly explains the recent recoveries in APE price.

    ApeCoin breaking past the $4.2 resistance

    APE/USD Chart by TradingView

    From the technical outlook, APE trades slightly above the resistance of $4.2. The cryptocurrency has also overcome a descending channel that kept it bearish. The cryptocurrency has maintained a system of higher highs and higher lows since bottoming around $2.8. The MACD indicator has shifted above the neutral zone, affirming a bullish momentum. However, the reading on the RSI shows that APE is overbought.

    What could occur next for APE?

    The latest surge and indicators are positive for APE price. We expect the strengths to be sustained in the short and medium term, potentially reaching the next resistance at or above $5.1. 

    Nonetheless, with the high RSI reading, APE could be due for a correction before continuing higher. A possible price retreat could see APE back to $4.2, now a support, or short-term ascending trendline. Investors should buy APE on a correction.

    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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  • Decentraland’s (MANA/USD) defies gravity to jump 20% but will buyers be relentless?

    Decentraland’s (MANA/USD) defies gravity to jump 20% but will buyers be relentless?

    • Decentraland’s MANA has surged by over 20% in the week

    • Most gains came when the metaverse platform announced an open-cross competition

    • MANA’s long-term recovery remains tied to the crypto sentiment

    Decentraland’s (MANA/USD) rose by 12% over the weekend, taking the weekly gains to over 20%. The surprise gains come after a prolonged bear market that saw the cryptocurrency claim the lowest price in 2022 on December 31.

    Investors banking on Decentraland’s MANA would be delighted at the latest cryptocurrency news amid quietness in the metaverse. On January 06, Decentraland said it had launched the first-ever metaverse architecture and design Biennale. It will be an open-cross competition in the metaverse and includes performances, events, public talks, and lectures. The event is expected to accommodate more than 50,000 visitors in over five days. The event is expected to attract opinion leaders, creators, and partners who will share ideas about the metaverse.

    The latest development comes as activity building in the metaverse continues to slump in a crypto winter. The low activity has pushed MANA to very low valuations, with the cryptocurrency trading at $0.355 as of press time. That compares to a high of nearly $6 at the height of the metaverse and crypto boom in November 2021.

    MANA price outlook and analysis amid recoveries

    MANA/USD Chart by TradingView

    From the technical outlook, the RSI shifted above the midpoint, suggesting the entry of buyers of MANA. The MACD indicator highlights an improved momentum. The MACD line crossed above the signal line, reinforcing a bullish outlook. However, the indicator is still below the neutral zone, emphasising that the bearish market remains. MANA price also remains underneath the descending trendline despite the recoveries.

    What could happen next?

    Investors could continue riding on the short-term rally on MANA as momentum has improved. However, the outlook is bearish, and MANA could correct once the price hits the descending trendline. If buying MANA now, be watchful of the level around $0.4, where the price intersects with the descending trendline.

    Where to buy MANA

    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 MANA with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy MANA with Binance 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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