Rally

Bitcoin

Tyrion

ApeCoin

<p style="text-align: justify">The fluctuating altcoin market has been heavily influenced by the movement of BTC price. The king of crypto is struggling to break resistance. <a href="https://en.coin-turk.com/the-convergence-of-bitcoin-and-artificial-intelligence-an-inevitable-meteoric-rise/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> is trading in a wider range between $36,500 and $37,500. As the end of the month approaches, we need to see an increase in BTC demand in order to see further growth in the altcoin markets. Meanwhile, a popular analyst is predicting a mega rally for the metaverse altcoin.</p>
<h2 style="text-align: justify" id="apecoin-ape-price-analysis">ApeCoin (APE) Price Analysis</h2>
<p style="text-align: justify">The price of ApeCoin dropped to $1 at the beginning of last month, setting a historical low. It was a period when new all-time low levels were set for many cryptocurrencies. APE Coin, which reversed from the bottom, has been following an upward trend line since November 18.</p>
<p style="text-align: justify">The price has surpassed the $1.35 resistance, surpassing the $1.56 resistance once again. At the time of writing, the price is finding buyers at $1.47. Despite the breakout, APE has not been able to close above the $1.50 resistance, and it has made its third upper wick in this resistance area. This indicates that selling pressure is dominant.</p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/binance-burns-760-million-lunc-tokens-in-15th-burn-program/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> Japan announced that it will list 13 cryptocurrencies, including APE, on November 17, but this news did not bring a sustainable rally.</p>
<h2 style="text-align: justify" id="altcoin-waiting-for-mega-rally">Altcoin Waiting for Mega Rally</h2>
<p style="text-align: justify">Some analysts are sharing a more optimistic outlook for APE Coin. This expectation is supported by the breaking of the declining resistance trend line. Generally, breakouts from long-term resistance trend lines are more likely to lead to bigger rallies, and the APE price has not been able to recover as expected. Analyst Sheldon_Sniper, known by the pseudonym on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">social media</a>, wrote the following;</p>
<blockquote>
 <p style="text-align: justify">“Mega rally is coming soon, significant buying in the green zone, and I expect a significant price increase in the longer term.”</p>
</blockquote>
<p style="text-align: justify"><img decoding="async" class="wp-image-279214 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/APE-Coin-Mega-Ralli.webp" alt="" width="935" height="860"></p>
<p style="text-align: justify">Analyst Tyrion Trades is also among those expecting a rise and argues that $2 could be achieved soon. Technical analysts value predictions with Elliott wave counts, so what does the wave count indicate for APE Coin?</p>
<p style="text-align: justify">The most likely count suggests that APE has started a 5-wave upward movement after the bottom. If the count is correct, the price should currently be in the third wave of this increase.</p>
<p style="text-align: justify"><img decoding="async" class="wp-image-279213 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Ape-Coin-Elliot-Analiz.png" alt="" width="1138" height="542"></p>
<p style="text-align: justify">Accordingly, closing above $1.50 can enable the testing of the targeted peak of $2.3 compared to the first and third waves. However, closing below the lowest level of the second wave, which is $1.27, can reverse the upward prediction and target $1.1.</p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> This article does not contain any investment advice. Investors should be aware of the high volatility and therefore the risk associated with cryptocurrencies and should conduct their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/altcoin-market-affected-by-bitcoin-volatility-apecoin-ape-price-analysis-and-mega-rally-prediction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/altcoin-market-affected-by-bitcoin-volatility-apecoin-ape-price-analysis-and-mega-rally-prediction/</a>

Altcoin Market Affected by Bitcoin Volatility: ApeCoin (APE) Price Analysis and Mega Rally Prediction

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