APE Hovers Near Two-Month High, FIL Up Nearly 70% Last Week – Market Update Bitcoin News


Apecoin traded near a two-month high on Monday, although cryptocurrency prices were mainly in the red to start the week. The global crypto markets are currently down about 2% at the time of writing. Despite this, filecoin has continued its rally, with the token price up nearly 70% in the past seven days.

Filecoin (FIL)

Filecoin (FIL) has once again been a prominent driver in crypto, with the token price soaring for the seventh consecutive session.

Monday saw the coin reach an intraday high of $11.24, the highest level since May 11, when prices were trading above $11.50.

Overall, the FIL is currently trading around 70% higher than the same point last week, when the coin price was at $5.10.

Biggest movers: Monkey hovering near a two-month high, FIL up nearly 70% in the last week
FIL / USD – daily chart

The rally started at this support point, with upward pressure intensifying as the days and week progressed.

This led to the 14-day Relative Strength Index (RSI) tracking a peak of 83, the highest point since March 2021.

Previous gains in the FIL are now reversed as a result of overbought, and after a close collision to a resistance point at $11.25.

FIL/USD is trading at $8.88 as of this writing.

APICOIN (APE)

In addition to the FIL, apecoin (APE) was also in the green during Monday’s session, with prices hovering near a two-month high.

APE/USD hit a high of $7.26 in today’s session, which comes less than a day after the coin was trading at $6.70.

Today’s move saw the coin trading marginally below $7.30, the highest point since the end of May.

Biggest movers: Monkey hovering near a two-month high, FIL up nearly 70% in the last week
APE/USD – daily chart

However, after the slight break above the $7.15 resistance level, the bullish pressure eased back, with the price now trading below $7.00.

Looking deeper at the current daily chart on APE, you can see that the RSI is currently at 64.28, which is close to the ceiling of 65.

If this momentum continues to rise, we could see bulls attempt to regain a higher resistance point at $9.30.

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Could Apecoin Reach This Resistance In August? Let us know your thoughts in the comments.

Eliman Dambel

Eliman offers an eclectic view of market analysis, having worked as a brokerage manager, retail trading educator and market commentator on Crypto, Stocks, and FX.




photo credits: Shutterstock, Pixabay, Wiki Commons, photo_gonzo / Shutterstock.com

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