A case of buying the rumor? ApeCoin’s price explodes by 55% over three days in anticipation that it would become a de-facto payment token in an upcoming metaverse land sale. (Reporting via bitcoinwallah)
Meanwhile, if the technical pattern turns out to be a"symmetrical triangle" instead, APE's upside target will be near $22, according to the setup shown below.ApeCoin now targets the 0.236 Fib line of the Fibonacci retracement graph, drawn from $41-swing high to $8.50-swing low, as its interim resistance. A pullback from the said price ceiling would risk sending APE toward the triangle's top near $12.50.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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