Apecoin ($APE) Price Poised To Hit $10 Before Plunging More Than 40%

The beginning of August month has been a good start for almost all of the cryptocurrencies. Bitcoin, Ethereum, Solana, Ethereum Classic along with ApeCoin gained their crucial price levels. Even the global crypto market cap reclaimed the $1 trillion mark.

Since mid-July, the ApeCoin was in a consolidation zone before getting onto the bull ride, yesterday August 3, 2022. At the time of publication, APE Price has gained 9.73% over the last 24hrs and is trading at $7.60. 

This latest surge came after Gucci announced that the company will be accepting ApeCoin as a medium of payment. Following this news, the ApeCoin price is enjoying its bull run with a leg up in its trading volume.

Along with other price indicators that are depicting positive signs, social media sentiment too is flashing a bullish indicator.

Will APE Price Drop To $5 In Coming Days?

The Bored Ape Yacht Club’s native currency $APE’s Volume Profile Indicator is not suggesting a positive graph defending the profits. On the other hand, with the ongoing price momentum, ApeCoin bulls are targeting the $10.80 level.

Nevertheless, if bears manage to enter the bullish price action, then the whole momentum will take a U-turn. If this happens, then ApeCoin price action will slide towards $4 or even $3.70, a 50% decrease from the current price levels.

However, if the bulls manage to close today’s daily candle above $7.55, then there is a high possibility that the bears entering the bullish price action will be a void prediction.

According to crypto analyst Altcoin Sherpa, According to altcoin sherpa altcoin sherpa Altcoin Sherpa Market Analyst Followers : 0 View profile , APE is primed for a rally to $10 before any significant retracements.