• Apecoin price is coiling in a triangular fashion
  • APE price is coming back into buyers' territory on the Relative Strength Index
  • Invalidation for the bullish symmetrical triangle is a touch at $9.30

Apecoin price is consolidating in what appears to be a triangle. The NFT Indexed coin can rally 90% based on this pattern.

Apecoin could make new all time highs

Apecoin price has puzzled traders as the digital asset has embarked on multiple trend changes since its first massive rally in March. Last week analysts projected a 20% sell-off into the $9 zone. The bears have only conquered 25% of the grounds since the bearish thesis was issued, which warrants analysts to reconsider the strength of the bears.

Now it seems there may be a reason for the back and forth price action as a triangle pattern takes form. Large rallies usually follow triangles, so catching the next APE price movement could be very profitable. The triangle's low to apex forecasts a potential 90% rally from the current price of $10.93. This APE price could surge to all-time highs towards $26. The price discovery in the said area could further the FOMO madness. 

APE 11/8/22

APE/USDT 9-Hour Chart

Apecoin price has yet to decide which direction the triangle will break out from. But it was worth noting that the Relative Strength Index is coming back into buyer's territory on the 9-hour chart. 

Investors willing to take an early risk should keep their invalidation level tight. Apecoin price should not breach the $9.36 level if this bullish symmetrical triangle is correct. If the bears manage to breach $9.36, the Ape coin price could drop 80%, bringing the price back to $2.50.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Solana Price Prediction: How high can the X-wave rally?

Solana Price Prediction: How high can the X-wave rally?

Solana price has fallen into a supportive level on the Relative Strength Index on larger time frames. Solana price could rally an additional 80% under conservative macro conditions. Invalidation of the uptrend scenario is a breach of the low at $25.78. 

More Solana news

Avalanche Price Prediction: A sharp decline in the making?

Avalanche Price Prediction: A sharp decline in the making?

Avalanche price shows a potential sell-off underway, and key levels have been identified. Avalanche price could be depicting early evidence of liquidation underway as the technicals show subtle bearish cues. AVAX price has rallied 90% since July 1st, printing a new monthly high.

More Avalanche news

Ethereum Classic Price Prediction: Has the FOMO rally topped?

Ethereum Classic Price Prediction: Has the FOMO rally topped?

Ethereum Classic price may be demonstrating a topping pattern based on technical indicators and fractal wave theory. Ethereum Classic price currently consolidates near a weekly zone as the sellers appear to have faded away on the Volume Profile indicator.

More Ethereum Classic news

Top 3 Price Prediction: No FUD, just charts

Top 3 Price Prediction: No FUD, just charts

Ethereum price has been in high debates as the community of developers and investors are dueling over the future Ethereum Merge implications. The commotion has brought considerable social media presence to the smart contract giant and impressive gains. Since July 1, the Ethereum price has rallied 93%.

More Ethereum news

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis