APE coin price faces a remarkable rise in underlying bullishness with the price surpassing $16. But will the bull run sustain after creating a new ATH? Key technical points: The RSI slope enters the overbought territory. The 50 and 100-period EMA give a bullish crossover. Finally, the 24-hour trading volume of Apecoin is $2.145 Billion, marking a 303% rise. Past Performance of APE APE coin price inflates 50% in the last 48 hours, giving a fakeout of the support trendline and rising higher to surpass the overhead resistance above $15. The price jump creates multiple bullish engulfing candlesticks reaching the high of $16.72 after a retest candle. Source-Tradingview APE Technical Analysis APE coin price shows a post-retest upside continuation in the 4-hour chart reflecting a surge in underlying bullishness. This surge came after Yuga Labs launched a teaser for the upcoming metaverse, called Otherside. The sudden pump in APE price has left the EMAs(20, 50, and 100) way behind, indicating aggressive buying in the market. However, to maintain a healthy bull run the coin price is expected to keep a reasonable distance, which in our scenario could bolster a minor pullback. RSI Indicator: A parabolic rally in the RSI slope accentuates the rising bullish momentum. However, if the coin continues to surge higher without any significant pullback. MACD Indicator: The rising green bars on the histogram cheat and a long spread between the MA...
