ApeCoin Price Prediction: 2024, 2025, 2030

APE price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the weekly chart exhibited $2.50 as the peak resistance.
• Meanwhile, $0.56 was marked as the lowest support.

2. Market sentiment

• As of September 2024, the market sentiment is seen to be bearish. 

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, APE might attain an average trading price of $2 in 2030 and $4 in 2034.

Get in-depth insights on APE’s future trajectory through a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

APE technical analysis: Bullish revival sparks reversal hopes 

Despite crypto adoption and optimism growing, non-fungible tokens (NFTs) seem left behind. As the market fluctuates, an ApeCoin price prediction for 2024 becomes more crucial than ever. An observation of the weekly chart over the past year revealed that the token experienced substantial declines. 

The initial downtrend drove the token to the critical $1.06 mark. The market’s overselling hinted at an imminent recovery in price. Consequently, it materialized in mid-October as the buyers entered the market. This rally elevated APE over $1.35 by month’s end. After stabilizing briefly, the bulls moved to challenge $1.80 in December.

A month's effort was negated as the price returned to $1.35 by January. Another period of stabilization at this level underscored the bullish resilience to turn the tides in their favor.

In February, several altcoins rallied, including APE. This renewed bullish momentum flipped $1.80 by late February. This upward movement was supported by a notable increase in active addresses, which reached a six-month high. 

Yet, a simultaneous test of $2.50 was rejected in mid-March, precipitating more declines. This downturn could be attributed to a consistent decline in sales volume in the NFT sector since early March. Notably, collections such as CryptoPunks, Bored Ape Yacht Club (BAYC), CryptoKitties, and Milady were impacted.

AMBCrypto also highlighted BAYC's underwhelming performance compared to Bitcoin's (BTC) Ordinals. This shift marked a significant deviation from the 2021 bull cycle.

The broader market downturn intensified APE’s depreciation, with $1.35 reinstated as resistance by early April. AMBCrypto’s analysis revealed that this drop contributed to APE's diminishing market relevance. During that period, participants in both the futures and spot markets were pessimistic about the chances of a revival.
 

Attempts to reclaim this level succumbed to selling pressure, as the 11-month support of $1.06 was lost to sellers in mid-June. The token struggled to hold support levels, dropping below $0.71 in early July. 

While the price recovered to test $0.87 by mid-month, it was rejected. In early August, APE recorded a new all-time low (ATL) of $0.47, marking $0.56 as the lowest established support. Like many altcoins, APE recovered in mid-August.

AMBCrypto also highlighted a descending channel on the daily chart, suggesting the possibility of a trend reversal. Furthermore, the bullish divergence was evident on the higher time frame as the price formed a higher low in late 2023 despite the indicator showing a lower low. 

Similarly, while the price reached a lower low in Q3 2024, the indicator marked a higher low, reinforcing the potential for an upward shift. Additionally, in early September, the network released the blueprint of ApeChain, garnering substantial hype.

Consequently, APE bulls decisively reclaimed $0.71 by the second week of September. Furthermore, the price broke out of the descending channel to retest $0.87. At press time, the token exchanged hands at $0.77. 

AMBCrypto noted that for APE to keep its upward trajectory, it must surpass the critical resistance at $0.87. A move over it would allow the bulls to target $1.06, potentially sparking a significant uptrend. A failure to do that could lead to sideways trading or a slight retracement, with the price consolidating between $0.7 and $0.87. 

Conversely, maintaining support at the current level is essential for the bulls. A drop below could see APE return to the lowest support, inviting buyers back. 

The prediction models project a turbulent future trajectory for the asset. By 2030, APE is anticipated to achieve an average trading price of $2, reflecting mediocre growth from its current valuation. Moreover, the average price is forecasted to reach $4 by 2034.

APE's 2024 roadmap: Key indicators to watch and trade

• The Awesome Oscillator (AO) primarily stayed below the zero line. It briefly crossed into the positive territory between late February and April, then reverted to being negative. 
• The indicator stood at -0.507 at press time, highlighting a decrease in the downtrend’s strength.
• The On-Balance Volume (OBV) declined until early October. After a modest rise characterized by fluctuating peaks and troughs, the indicator ascended sharply in late January. 
• However, it resumed its downward trajectory by early March. At the time of writing, it stood at -906.203 million, indicating substantial distribution.
• The trading volume recovered from mid-October and surged substantially during the February rally. Yet, it returned to its bearish lows as the price dropped again. This reversed in September as investors entered the market, supporting the latest price rally.