ApeCoin(APE)pricehassurged63.86%inthelastsevendays,butmajorholdersremainskeptical.Thenumberofwalletsholdingbetween1millionand10millionAPEhasdroppedconsistentlysinceOctober19.
Thisdeclinesuggeststhatwhalesarenotyetconvincedaboutthesustainabilityofthisrally.Withouttheirconfidenceandparticipation,itmaybechallengingforAPEtomaintainitsupwardmomentum.
APEWhalesAreStillNotConvinced
APEpricehasbeeninthenewsafterYugaLabsannouncedthelaunchingofApeChain.However,whalesdon’tseemconvinced.
Thenumberofwalletsholdingbetween1millionand10millionAPEhasbeenconsistentlydroppingsinceOctober19.Thisindicatesalackofconfidenceamongmajorholders,evenwiththerecentupwardmovementinprice.
Walletsholdingbetween1millionand10millionAPE.Source:Santiment
Trackingwhaleactivityiscrucialbecausetheyoftendrivesignificantmarketmoves.BetweenOctober19andOctober25,thenumberofAPEwhalesdroppedfrom168to158.
ThisdeclinesuggeststhatdespiteAPEpricerecentgains,whalesarenotyetconvincedandarenotactivelyaccumulating.Withouttheirparticipation,sustainingtherallycouldbechallenging,indicatinguncertaintyinAPE’scurrentpricemomentum.
ApeCoinDMIShowsTheCurrentTrendIsn’tThatStrong
TheDMIchartforAPEshowsthreeimportantcomponents:theADX(yellow),the+DI(blue),andthe-DI(red).TheADXvalueiscurrentlyat22.91,indicatingarelativelyweaktrend.
TheADXmeasuresthestrengthofthetrend,withvaluesabove25consideredastrongtrend.Inthiscase,theADXsuggeststhatAPE’srecentuptrendlacksmomentumtobeclassifiedasstrong.
APEDMI.Source:TradingView
The+DI(blue)isat30.51,whichishigherthanthe-DI(red)at21.10,indicatingthatbuyingpressureiscurrentlydominatingsellingpressure.However,withtheADXbelow25,thecurrentupwardmovementmightlacktheforceneededtocontinuewithsignificantgains.
Theinterplaybetweenthe+DIand-DIsuggestsabullishtrend,butforAPE’suptrendtobesustainedandstronger,theADXwouldneedtoriseabove25,confirmingamoredecisivetrendinthecurrentbuyingmomentum.
APEPricePrediction:CanAPESurgeMore53%InOctober?
APEiscurrentlytradingabovetheshorter-termEMAlines,suggestingbullishmomentum.However,theyarebeginningtoflatten,whichimpliespotentialconsolidationaftertherecentsurge.ThisisalsoreinforcedbytherecentheavydropintheshorterEMAline(theredoneinthechart).
APEEMALinesandSupportandResistance.Source:TradingView
Keyresistancelevelsaremarkedinblueat$1.47and$1.82.IfAPEisabletobreakthe$1.47resistance,itcouldtest$1.82next,markingapotential53%pricegrowth.
Onthedownside,significantsupportlevelsareat$1.12and$0.94,highlightedinred.Thesesupportareasprovidestabilityifthepricepullsbackfurther,butmaintainingsupportabove$1.12wouldbevitalforholdingontorecentgainsandavoidingadeepercorrection.
ThiswillbecrucialtokeepingAPEamongthemostrelevantaltcoinsinthemarket,asthecoinhasrepeatedlymovedinandoutofthetop100bymarketcapinrecentmonths.
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