- APE’s price jumped by 17%, with an analyst suggesting a breakout for the token.
- APE retraced to $1.65 but bulls’ presence may help its recovery toward $1.90.
- If the overbought condition leads to a reversal, then an entry could appear around $1.60.
According to crypto analyst Crypto Kaleo, ApeCoin (APE) may soon break out because of the positive narrative growing around cryptocurrencies linked to NFT projects. Kaleo made his opinion known in a post on X (formerly Twitter), noting that the APE could be next to follow the path of Blur (BLUR) and LooksRare (LOOKS).
In the last 24 hours, the price of APE has increased by 17.52%, data from CoinMarketCap revealed.
ApeCoin (APE) 24-Hour Price Performance (Source: CoinMarketCap)
APE to Reclaim August High?
But compared to the performance of LOOKS and BLUR, ApeCoin still lagged behind. However, Kaloe explained his bias using the APE/BTC chart. From the chart shared, the analyst highlighted that High Time Frame (HTF) has been stuck in a downtrend for most of the year.
Not fading this $APE breakout. Up until the lasst month, BLUR and LOOKS have both traded in lockstep with APE. NFTs are starting to pick up …The post Why ApeCoin’s(APE) NFT Narrative May Help Its Rise to $1.90 appeared first on Coin Edition.