ApeCoin Price Prediction: 2024, 2025, 2030

APE price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the weekly chart pointed to $1.06 as the lowest support, with $4.54 being the highest resistance.

2. Market sentiment

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

3. Predictive forecasts

• Based on our AI/ML predictive models, APE might attain an average trading price of $112 in 2029 and over $1800 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: Is the NFT boom over?

Even as the adoption and optimism around crypto grows, non-fungible tokens (NFTs) seem to have been left behind. As the market bleeds, the necessity of 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 faced stern rejection at the peak resistance at $4.54. This triggered a sequence of price declines that resulted in the token's value dropping below $3.30 in June and further falling through $2.32 by mid-month.

The downtrend intensified, pushing the price to a year-low of $1.06 in September. At this point, the asset was deemed oversold according to market indicators. Thus, the possibility of a potential reversal or bounce back in price became imminent. 

Consequently, a recovery materialized in late October as the price appreciated and moved across $1.34. A test of $1.76 in late 2023 led to a pullback. By January, the price fell back to its support at $1.34. 

After stabilizing at this support for almost a month, a renewed bullish momentum was observed. The token's price ascended past $1.76 by the latter half of February. This upward movement was supported by a notable increase in active addresses, which reached a six-month high.

Yet, a subsequent retest of $2.32 was rejected in mid-March. APE settled at $1.77 at the time of this analysis. This recent 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. Meanwhile, Bitcoin's (BTC) Ordinals’ collections have continued to dominate BAYC. This shift marked a significant deviation from the 2021 bull cycle. 

Earlier, Ethereum (ETH) NFTs, spearheaded by BAYC, enjoyed substantial market hype. The current struggle to match previous sales figures casts doubt on the NFT community's ability to reignite past enthusiasm.

The ongoing bearish pressure puts the current support level at high risk. If this trend persists, the price could potentially retreat to $1.34 or, in a more severe downturn, to $1.06. On the flip side, if the market experiences a turnaround, the price can resume its journey to test and overcome $2.32 again. Sustained buying pressure can lead to the heights of $3.30. This trajectory even puts $4.54 back on the cards for APE.
 

The prediction models corroborate the bullish predictions, projecting long-term growth for the asset. By 2029, APE is anticipated to achieve an average trading price of $112, reflecting considerable growth from its current valuation. Looking ahead to 2033, the average price is forecasted to surpass an impressive milestone of $1800.

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

• The trading volume started out low. Interestingly, as the price continued to decline, a recovery in volume was noted from June. Notably, significant spikes in volume occurred again as the price appreciated, especially in February. 
• This period marked the highest volume levels of the year. It was reflective of strong buying interest from traders. Despite this, the price rejection led to a drop in volume again. This highlighted moments of market hesitation or profit-taking.
• The Relative Strength Index (RSI) mostly stayed below the 50 mark. It dipped into the oversold territory between mid-August and mid-October, suggesting extreme bearish sentiment. Thereafter, the indicator rebounded, crossing the 50 line in mid-February. 
• After peaking at 63.92 in March, the RSI descended again. As the analysis concluded, it registered at before declining to 48.66. This drop indicated that the bulls had lost strength in the market.
• Throughout the analysis period, the 50-week exponential moving average (EMA) consistently acted as a barrier above the price. The price candles only briefly touched this EMA between late February and mid-March before falling below it again. 
• The 20 EMA also served as resistance, with the price only surpassing it briefly in December and once more from mid-February till the end of the analysis period. 
• At the time of writing, the price candle moved slightly below this EMA. It highlighted that the asset might be losing momentum and could be setting up for further declines if the bearish trend continues.