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ApeCoin price could be on the verge of a breakout

A brief technical and on-chain analysis on ApeCoin price. Here, FXStreet's analysts evaluate where APE could be heading next. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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US Fed rate hike fears weigh on Bitcoin – TAO, ADA sustain gains

The broader cryptocurrency market maintains risk-off sentiment ahead of the US Federal Reserve interest rate decision on Wednesday. Bitcoin holds above $63,000 on Wednesday, while Bittensor and Cardano sustain gains from the previous day. CoinMarketCap’s Fear and Greed Index is at 35, stabilizing after reversing from the neutral zone boundary at 40 on Sunday.

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Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.

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