The post-retest reversal rally help Ape price to beats the $6 mark teasing a potential bull run to the next horizontal level at the $7 mark.

Key technical points: 
<ul>
 	<li>The APE prices jumped by 19.50% in the last 24 hours.</li>
 	<li>The market value surpasses the $6 mark with a massive green candle</li>
 	<li>The 24-hour trading volume of Apecoin is $827.6 Million, indicating a rise of 86.9%.</li>
</ul>
<h2>Past Performance of APE </h2>
The <a href="https://www.cryptoknowmics.com/news/ape-technical-analysis-apecoin-rises-within-symmetrical-triangle/">APE</a> prices show a bullish reversal from the $3.5 bottom support levels resulting in a bull run surpassing the resistance trendline. After a retest, the prices took a bullish turnaround on 13 July, resulting in a prism to the overhead resistance at $6 down. The bullish turnaround accounts for a price jump of 71 percent in the last month, teasing a potential uptrend continuation.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/5/5zi1KNqE.png" alt="APE/USDT Chart" width="2047" height="966" />

Source- <a href="https://www.tradingview.com/x/5zi1KNqE/" target="_blank" rel="noopener">Tradingview</a>
<h2>APE Technical Analysis </h2>
With the price jump of 19.50%, APE prices form a bullish engulfing candle approaching the $6 mark. However, traders must wait for the prices to close above $6 to avoid any underlying trap. 

The daily-RSI slope shows a boom in the underlying bullishness as the slope exceeds the halfway line. Moreover, the MACD indicator shows a bullish trend in the fast and slow line with the support of resurfacing histograms. 

Additionally, the stochastic RSI shows a bullish cycle in motion reflecting a buying spree in motion. Hence the technical indicators maintain a bullish bias, supporting the price action. In a nutshell, APE technical analysis showcases rising demand which fuels the uptrend.
<h2>Upcoming Trend</h2>
The APE price can rise up to the next resistance level at $7.23 if the buyers manage to keep the closing price above $6. Conversely, a bullish failure to sustain above $6 will result in a downfall to the $5 mark.

Resistance Levels: $6.5 and $7.23

Support Levels: $5.5 and $5

APE Technical Analysis: Will APE Market Value Jump Above $7?

APE Technical Analysis shows the post-retest reversal rally helping Ape price beat the $6 mark teasing a potential bull run to the next horizontal level.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

APE Technical Analysis: Will APE Market Value Jump Above $7?

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