ApeCoin

Date: Mon, Dec 02, 2024, 12:18 PM GMTThe cryptocurrency market continues its bullish momentum, with altcoins gaining ground as Bitcoin&#39;s (BTC) dominance declines. BTC dominance has dropped to 56.92% from its recent peak of 61.53%, providing a favorable environment for <a href="https://coinsprobe.com/xrp-becomes-third-largest-cryptocurrency-after-massive-pump-what-to-expect-ahead/" rel="noopener noreferrer nofollow">altcoins </a>to shine.Among these, Apecoin (APE) is coming into the spotlight due to its significant weekly performance and showing significant potential for a major breakout.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8e4fe24867ad4c059c7385cb149d1099.png" />Source: Coinmarketcap<h3 id="major-breakout-on-the-horizon">Major Breakout on the Horizon</h3>Apecoin (APE) has been consolidating within a falling wedge pattern for over two years. This technical setup is often considered bullish, as it indicates a buildup of momentum before a potential breakout. APE has respected its lower support levels while repeatedly testing the wedge’s descending resistance.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/d24e9fea245944b998273b3f564cb054.png" />A breakout from this resistance line, with confirmation above $1.78, could trigger a rally toward the first key resistance level of $2.66, marking a 50% gain from its current price. If the bullish momentum sustains, further resistance levels at $6.41 and $7.71 may come into play, signaling a significant recovery from APE&#39;s historic lows.With the Relative Strength Index (RSI) currently at 64, APE has room for further upward movement as it builds bullish momentum in an environment increasingly favorable for altcoins.The chart&#39;s Relative Strength Index (RSI) is currently at 64, suggesting a growing bullish momentum without yet being overbought. This indicates room for further upward movement.<h3 id="what-to-expect-ahead">What To Expect Ahead?</h3>Apecoin (APE) is showing strong early signs of a bullish breakout, with the potential to hit key resistance levels soon. If APE successfully makes a breakout, it could gain momentum toward higher price zones, supported by the wedge breakout pattern.As Bitcoin&#39;s dominance continues to decrease, the broader altcoin rally may provide the perfect backdrop for APE to capitalize on its current technical setup and stage a strong rally.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult a financial advisor before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/cardano-ada-pulls-back-to-key-support-following-correction-can-it-bounce-back/" rel="noopener noreferrer nofollow">Cardano (ADA) Pulls Back To Key Support Following Correction: Can It Bounce Back?</a>

Apecoin (APE) Showing Potential For Major Breakout: What To Expect Ahead?

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