ApeCoin Price Prediction: 2024, 2025, 2030

APE price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the weekly chart exhibited $2.3 as the highest resistance.
• $0.8 acted as the lowest support.

2. Market sentiment

• In June 2024, the market sentiment is seen to be strongly bearish.

3. Predictive forecasts

• Based on our AI/ML predictive algorithms, APE might attain an average trading price of $80 in 2029 and close to $1,500 in 2033.

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: Token records new ATL amid market pessimism

Even as crypto adoption and optimism grow, non-fungible tokens (NFTs) seem left behind. As the market bleeds, 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 a substantial drop in June, falling below $2.3 by mid-month. Repeated rejections at this yearly high barrier triggered more declines.

After finding a temporary base at $1.7, the market continued to see red between mid-August and mid-September. This downtrend drove the token to the critical $1.0 mark. The market’s overselling hinted at an imminent bounce back in price.
 

Consequently, a recovery materialized in mid-October as the buyers entered the market. This rally elevated APE over $1.3 by month’s end. After stabilizing briefly, the bulls moved to challenge $1.7 in late November.

A month's effort was negated as the price returned to $1.3 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 $1.7 by late February. This upward movement was supported by a notable increase in active addresses, which reached a six-month high.

Yet, a simultaneous retest of $2.3 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 recent 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 $1.3 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 price plunged to the lowest support at $0.8 in mid-June. Subsequently, APE recorded a new all-time low (ATL). At press time, the token exchanged hands at $0.9.

The ongoing bearish pressure puts the current support level at high risk. If this trend persists, the price could inch closer to its lowest floor or, in a more severe downturn, make new ATLs. 
 

Contrarily, if the market experiences a turnaround, the price can resume its journey to test and overcome $1.0 again. A move past $1.7 would bullishly change the market structure. Sustained buying pressure can even put overcoming $2.3 back on the cards for APE.

The prediction models project long-term growth for the asset. By 2029, APE is anticipated to achieve an average trading price of $80, reflecting considerable growth from its current valuation. Looking ahead to 2033, the average price is forecasted to get close to an impressive milestone of $1,500.

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. 
• At press time, the indicator registered at -0.408. This highlighted the market’s prominent downtrend.
• 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 -858.381 million, indicating substantial distribution.
• Initially, the trading volume continued to decrease alongside the price. Meanwhile, a noticeable recovery was observed starting mid-October, and the volume surged more during the February rally. However, it returned to its bearish lows as the price dropped again.