Apecoin was trading close to a two-month high on Monday, despite crypto prices mainly being in the red to start the week. Global crypto markets are currently down around 2% as of writing. Despite this, filecoin continued its own surge, with prices of the token up nearly 70% in the last seven days.
Filecoin (FIL)
Filecoin (FIL) was once again a notable mover in crypto, as prices of the token rose for a seventh consecutive session.
Monday saw the token hit an intraday high of $11.24, which is its highest level since May 11, when prices were trading above $11.50.
Overall, FIL is currently trading nearly 70% higher than at the same point last week, when prices of the token were at a floor of $5.10.
The rally commenced at this support point, with bullish pressure intensifying as the days and week progressed.
This led to the 14-day RSI (relative strength index) tracking at a peak of 83, which is its highest point since March 2021.
Earlier gains in FIL have now eased as a result of prices being overbought, and following a collision close to a resistance point of $11.25.
FIL/USD is trading at $8.88 as of writing.
Apecoin (APE)
In addition to 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 token was trading at $6.70.
Today’s move saw the token trade marginally below $7.30, which is its highest point since the end of May.
However, following a slight breakout above a resistance level of $7.15, bullish pressure eased, with the price now trading under $7.00.
Looking deeper into the current daily chart on APE, you can see that the relative strength index is currently at 64.28, which is near a ceiling of 65.
Should this momentum continue to rise, then we might see bulls attempt to recapture a higher resistance point of $9.30.
Register your email here to get weekly price analysis updates sent to your inbox:
Could apecoin reach this resistance in August? Let us know your thoughts in the comments.
Image Credits: Shutterstock, Pixabay, Wiki Commons, photo_gonzo / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
