Apecoin (APE), the digital asset at the heart of the Bored Ape Yacht Club and APE ecosystems, has just experienced a bullish golden cross on the one-day chart.
Apecoin Could Rise Back Above $6
The one-day APE/USDT chart below, courtesy of Tradingview.com, shows that the golden cross between the 50-day (white) moving average and the 200-day (green) moving average occurred mid-last week.
The chart also shows that Apecoin, currently trading at $5.286, is now defending the $5.25 support level. At the same time, its daily MFI (green), MACD and RSI (red) all hint at renewed buyer interest that should send Apecoin (APE) above the $6 price level in the coming week.
However, caution is advised given the general crypto-wide anxiety brought about by the United States Securities and Exchange Commission settling with Kraken for $30 million. The deal also included Kraken ending its staking services to US clients, thus igniting concerns of increased scrutiny of the crypto industry by US-based regulators.
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