Is It Too Late to Buy ApeCoin? APE Price Pumps 3% as New Telegram Crypto Casino Prepares for Grand Opening
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Amid 8-months of downside price action, the governance token for Bored Ape Yacht Club (BAYC) - ApeCoin (APE) - has pumped +3%, as price finds feet - traders are asking 'is it too late to buy ApeCoin'?
The uptick in price action comes as ApeCoin bag-holders attempt to mount consolidation, following the recent loss of the 20DMA on October 3.
Upside movements have been triggered by a small recovery in BAYC floor price in recent weeks.
Indeed, BAYC holders were in a state of despair as floor price sank to 22.79 ETH on September 14, however, a surge in interest has now driven a +11.84% increase in floor price in the weeks since, with BAYC NFTs now sat at a more respectable 25.49.
Although, this still leaves many BAYC holders underwater, with floor price down -80% from the all-time high on May 1 2022.
ApeCoin Price Analysis: Is it Too Late to Buy ApeCoin?
As BAYC holders undertake a small recovery, ApeCoin has followed suit, with APE currently trading at a market price of $1.037 (representing a 24-hour change of -0.48%).
This comes as ApeCoin bulls attempt to mount consolidation above the $1.00 price level, in a move aiming to reclaim the 20DMA (sat at $1.12).
Indeed, the 20DMA has formed the key level to watch for much of the past 8-months of price action, with price failing to establish a foothold above the moving average since February 8 - amid a catastrophic cascade.
The 200DMA - a level untouched since April 18 - remains high above price action at $2.44.
A silver-lining emerges in from the RSI indicator, which has cooled-down significantly throughout October, and is currently signalling bullish oversold divergence at 33.50 - a suggestion that price could push up from here.
However, this contrasts with the MACD - which signals fleeting momentum - as bearish divergence grows to -0.004.
Overall, ApeCoin looks weak here - below the 20DMA in the midst of a complete bleed-out, however, a week of consolidation - matched with a bullish RSI could signal an incoming re-test of the 20DMA.
This leaves ApeCoin with an upside target at $1.20 (a possible +16.17%).
While downside risk here is significant at the psychological level of $0.80 (a potential -22.56%).
ApeCoin's short-time frame risk: reward ratio therefore stands at 0.72 - a bad entry, characterised by downside price exploration.
But while BAYC and ApeCoin holders despair, smart money have shifted their attention to the grand launch of a new GambleFi project.
As Telegram trading bots and GambleFi dominate Autumn's narratives, the TG.Casino ($TGC) presale is gaining significant attention ahead of its highly anticipated Telegram casino launch today.
This comes after a dramatic presale saw TG Casino surge to $750k raised in just days, here’s why it should be on your radar.
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The TG Casino Presale: Explore the Hype
The presale is where things get even more intriguing as the offered staking APY is nothing short of spectacular, standing proudly at 3,446%.
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How to Buy TG Casino Early?
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The first thing you want to get correctly is going over to their official website.
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Step 6 – Claim TG.Casino Token
Once TG.Casino's presale has ended, there will be a Token Generation Event (TGE), where investors can claim their purchased tokens by clicking the 'Claim' button on TG.Casino's homepage. That's all for how to buy TG.Casino.
TG Casino's Unrivalled Tokenomics Could Trigger Biggest GambleFi Moonshot
To wrap it up, TG.Casino ($TGC) presale is not just an opportunity; it's a front-row ticket to the future of Telegram GambleFi.
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Its blend of a comprehensive ecosystem, enticing financial benefits, and user-centric approach make it a tantalizing prospect. But as always, arm yourself with research, and here’s to successful ventures ahead!
