ApeCoin (APEUSD) Struggling to Find Momentum in 2024
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Market Analysis – Price Remains in the Equilibrium Phase
ApeCoin token has entered 2024 without a clear motive to push forward. The token price has been stagnant for weeks, struggling to make a solid push. Currently, there seems to be no intention on the part of either participant to make a breakthrough. The bulls have yet to put up a serious fight, and the market remains in a state of equilibrium.
ApeCoin Key Levels
Resistance Levels: $3.500, $2.800
Support Levels: $2.340, $1.530
Throughout 2023, ApeCoin faced significant setbacks. The bulls failed to make a significant impact, while the sellers dominated the market. The bears initiated a long fall, breaking through the $3.000 price level. Even after this fall, the token price continued to lose value, dropping below the parity level.
From below the significant level of $1.000, the buyers have struggled to pull the price back above the key zone of $1.530. The market has been in a state of equilibrium, hoping for an influx of liquidity. Despite the current low drive, ApeCoin still holds promise for the year ahead. The bulls must put up a serious fight for more breakthroughs. Gradually, this year will see the recovery of numerous key levels.
Market Expectation
However, the momentum indicator has yet to signal a significant impulse for ApeCoin. The battle remains in consolidation as buyers fight for upward momentum. Although the current situation presents challenges, the potential for recovery and further breakthroughs remains. The bulls need to gradually regain momentum and drive the price higher.
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