Today, ApeCoin (APE) is displaying encouraging bull signals, and crypto traders are paying attention. Recently the token saw an increase of 7.18%, taking the price to $0.1373. This energy surge has catapulted ApeCoin above short-term and medium-term moving averages. In other words, the immediate trend is strongly bullish and buyers are pushing the market up.

Technical Indicators Point To Buying Pressure

ApeCoin is currently holding on to a strong position above its 20-period moving averages by $0.1308 and its 50-period moving averages by $0.1314. It also has immediate support at $0.1316. This price level is called the Ichimoku Kijun.

The Relative Strength Index (RSI) and the MACD favorite indicators are giving a strong buy signal. The RSI is at 61.38 and this is an indicator of the buyers’ dominance in the volume. Some other indicators, such as the Commodity Channel Index (CCI), do indicate, however, that this asset is just slightly overbought right now. This could be a short period on price before it will make another significant move.

What To Expect From The APE Price Next

ApeCoin is predicted to trend between a tight volatility range over the next two to three trading days. Likely, the price is going to be between a low of $0.1312 to a high of $0.1405.

There is a very high chance of a bull market with the current chart setup. The price may return significantly more of such gains if the buyers can break the intraday resistance near $0.1405. 

On the other hand, if the price falls below the $0.1316 support floor, the bullish outlook will weaken. For now, the bulls are in control and the most probable scenario is a major breakout.