ApeCoin Price Analysis & Prediction (Nov 29th) – APE Approaches Crucial Resistance Following a Break and Retest Pattern, Can it Sustain a Positive Move?

ApeCoin has bounced back to the top amongst the metaverse token on the Coin Market Cap after increasing by 21% in a week. From the $2.62 low of the week, the price has recovered near a critical level where the price collapsed in the past weeks.

This week’s recovery has been quite impressive after ApeCoin reclaimed the $3 level, followed by a surge to where it is currently changing hands at around $3.85.

The bulls appear to be taking charge as they target the previous break level of $4, located inside the orange zone on the daily chart. This positive move could end as soon as the price retests this price level – a bearish break and retest pattern.

Another angle to this setup is that ApeCoin has been charting a lower low and lower high pattern from around $7.8 since August. The highest price it can tap on this retracement movement is $4.2 and potentially $4.73, which would be a slight breakout on the 4-month resistance line.

If the bulls sustain this momentum above this resistance line, the market could reverse for a mid-term bullish. As it stands, a rejection is more likely to occur once the market retest these mentioned resistance levels – providing a discount for the sellers.

ApeCoin’s price is up by 15.7% over the past 24 hours, with a current market cap of $1.385 billion. It is currently looking bullish across m timeframes.

APE Price Analysis (APEUSDT): Daily Chart

There’s still a chance for an increase even though the positive move is reaching an exhaustion level. However, A recovery above $5.3 would validate a complete reversal for ApeCoin.

It is currently sitting on daily support of $3.52. If the price drops and the support fail to contain selling pressure, the immediate support level to keep in mind is $3.1. Below this level lies the monthly low of $2.62.

Once the price dips beneath this low, the $2 and $1.5 levels could come into play as the new eight-month low. Let’s see how things unfold in the coming weeks.

Key Resistance Levels: $3.96, $4.2, $4.73

Key Support Levels: $3.52, $3.1, $2.62

• Spot Price: $3.84
• Trend: Bullish
• Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.