ApeCoin to US Dollar
- By date
- Metadoro first
ApeCoin (APE) has declined by 4.5% to $1.464, underperforming the broader crypto market, where Bitcoin (BTC) has risen by 1.4% to $104,180. APE's recent rally, driven by optimism surrounding U.S. President-elect Donald Trump’s promise to establish a strategic Bitcoin reserve, has fizzled out, with the altcoin returning to its average price levels.
APE is currently struggling to hold above the $1.5000 support level. If this support is breached, prices could drop further to $1.000, a scenario that aligns with the baseline market outlook. However, this bearish projection is not corroborated by the price movements of the NFT Bored Ape Yacht Club (BAYC). BAYC NFT prices surged by 101.0% to 22.99 ETH but have since corrected only by 20.0% to 18.30 ETH, whereas APE prices have dropped by 33.0%. This divergence is notable, as APE and BAYC typically exhibit strong price correlation.
Given this discrepancy, two potential scenarios emerge: either BAYC prices will decline further, aligning with APE's trajectory, or APE will experience a short-term rebound above $1.500. Both scenarios suggest that APE prices are likely to consolidate around the $1.500 level for the next one to two weeks.
| Ticker | APEUSD APE/USD |
| Contract value | 1 |
| Maximum leverage | 1:5 |
| Date | Short Swap (%) | Long Swap (%) | No data |
|---|
| Minimum transaction volume | 10 lot |
| Maximum transaction volume | 1000 lots |
| Hedging margin | 50% |
| USD Exposure | Max Leverage Applied | Floating Margin |
|---|
