Apecoin price has entered its fourth consecutive bearish session after dropping by less than a percentage point in today’s trading session. The drop extends weekly price loss by six per cent. However, this week’s price drop has been an exception to the bullish trend, which has persisted throughout the month and has seen the value of Apecoin going up in September by more than 10 per cent.
The Apecoin trend has also traded against the cryptocurrency market trend, which has been aggressively bearish throughout the month. Part of the reason why Apecoin has continued to gain in the markets throughout the month is due to its innovativeness. They are also in an emerging blockchain niche, the non-fungible token (NFT) industry, which is among the fastest growing, with a huge user base.
Therefore, despite the cryptocurrency industry’s continued bearish trend, Apecoin has been able to tap into its huge user base and potential customers to create a product that, on most days, averages a trading volume of more than half a billion. This has boosted its current bullish trend throughout the month despite what has been happening in the markets.
Apecoin Price Prediction
Despite today marking the fourth consecutive session that Apecoin price is dropping, recent price action indicates we are still in a bullish trend. The Williams Alligator gives signals of a strong bullish trend that is in its early stages. Today’s intraday trading also gives an impression that we might see a recovery before the session ends.
Therefore, I expect to see Apecoin’s price trading above the $6 price level in the next few trading sessions. For the long term, I expect to see Apecoin hitting the $7.7 resistance level sometime next month and possibly trade above that level. A trade below the $5 psychological level will invalidate my bullish analysis.