APE Experiences High Whale Activity Over The Last 24 Hours

The crypto whale tracking website, WhaleStats, tweeted this morning that ApeCoin (APE) was one of the most used smart contracts in the last 24 hours among the top 100 Ethereum (ETH) whales.

JUST IN: $APE @apecoin one of the MOST USED smart contracts among top 100 #ETH whales in the last 24hrs?

We’ve also got $UNI, $SHIB, #0x0, $MATIC & $LINK on the list ?

Whale leaderboard: https://t.co/N5qqsCAH8j#APE #whalestats #babywhale #BBW pic.twitter.com/IIDBtfaSfd

— WhaleStats (tracking crypto whales) (@WhaleStats) March 6, 2023

In the tweet, Whale Stats added that Uniswap (UNI), Shiba Inu (SHIB), 0x0, Polygon (MATIC) and Chainlink (LINK) have also made the list in the last 24 hours.

At press time, the price of APE has fallen 0.45% over the last 24 hours according to CoinMarketCap. It has also weakened against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 0.58% and 0.11% respectively. As a result, APE’s price currently stands at $4.81.

Trading volume for the altcoin dropped slightly in the last 24 hours as well. Currently, the daily trading volume for APE stands at $72,426,213 following a 10.21% drop.

Daily chart for APE/USDT (Source: TradingView)

APE’s price rebounded off of the key support level at $4.610 over the last 4 days. Yesterday, APE’s price attempted to challenge the 9-day EMA line but was unable to do so, only setting a daily high at $4.909.

This rebound can also be seen in the daily Relative Strength Index (RSI) indicator. The daily RSI line saw its slope change from negative to positive between Saturday and Sunday.

Traders may want to wait for APE’s price to close above the 9-day EMA level before determining a long position entry for the altcoin.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

Source