Apecoin Analysis: Should Traders be Worried as APE Ends Fourth Week With Notable Gains

Apecoin has been on an uptrend for the past three weeks. As a result, it is seeing notable increases in value. During the current intraweek session, the trend continues. The altcoin may end the present seven-day period with notable gains.

This statement is more likely as the asset is seeing a significant climb in value. The intraday session opened at $4 and is worth $4.29 at the time of writing. It peaked at $4.58 before a massive downtrend.

The decrease is spreading a mixed reaction among traders. Many are worried that this may be the start of another massive downtrend. Should you be worried? Let’s go over some factors.

Previous Price Patterns

Based on previous price trends, we may conclude the coin may continue to enjoy the increases. The first time the coin had such a notable increase was in July. The uptrend lasted for five weeks.

During the bullish round, the coin gained more than 60%. A look at the current situation, we are seeing a replica of the previous trend. Currently up by more than 50%, there are indications of more price increases.

With the trend entering the fifth week, we may expect APE to close the current week with gains of more than 5%. There are other factors that agree with this statement.