CandleFocus Whales Drop ApeCoin (APE) Holdings Amid Recent Price Surge
2024-10-26
Author: Content Editor
The price of ApeCoin (APE) has recently surged by 63.86% in the last seven days. However, major holders of APE remain skeptical, as the number of wallets holding between 1 million and 10 million APE has been consistently dropping since October 19. This lack of confidence among whales suggests that the sustainability of the rally is uncertain. The DMI chart for APE indicates a relatively weak trend, with the ADX value below 25. While the interplay between the +DI and -DI suggests a bullish trend, the ADX would need to rise above 25 to confirm a more decisive trend. APE is currently trading above shorter-term EMA lines, but they are starting to flatten, indicating potential consolidation. Key resistance levels are marked at $1.47 and $1.82, while significant support levels are at $1.12 and $0.94. Sustaining support above $1.12 will be crucial for maintaining recent gains and avoiding a deeper correction.
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