APE Technical Analysis: Will APE Market Value Jump Above $7?

The post-retest reversal rally help Ape price to beats the $6 mark teasing a potential bull run to the next horizontal level at the $7 mark. Key technical points: The APE prices jumped by 19.50% in the last 24 hours. The market value surpasses the $6 mark with a massive green candle The 24-hour trading volume of Apecoin is $827.6 Million, indicating a rise of 86.9%. Past Performance of APE The APE prices show a bullish reversal from the $3.5 bottom support levels resulting in a bull run surpassing the resistance trendline. After a retest, the prices took a bullish turnaround on 13 July, resulting in a prism to the overhead resistance at $6 down. The bullish turnaround accounts for a price jump of 71 percent in the last month, teasing a potential uptrend continuation. Source- Tradingview APE Technical Analysis With the price jump of 19.50%, APE prices form a bullish engulfing candle approaching the $6 mark. However, traders must wait for the prices to close above $6 to avoid any underlying trap. The daily-RSI slope shows a boom in the underlying bullishness as the slope exceeds the halfway line. Moreover, the MACD indicator shows a bullish trend in the fast and slow line with the support of resurfacing histograms. Additionally, the stochastic RSI shows a bullish cycle in motion reflecting a buying spree in motion. Hence the technical indicators maintain a bullish bias, supporting the price action. In a nutshell, APE technical a...