The Relative Strength Index (RSI), currently at 44, suggests there is scope for bullish momentum to emerge once bearish pressures subside and demand recovers. For a strong rally, SUI will need to break above the immediate resistance at $2.00. If this level is cleared, the next significant resistance level would be located near the recent highs at $2.35. A successful break above $2.35 could set the stage for a rally towards $2.5, a new record high for the token.
On the downside, if SUI fails to hold the critical $1.5 support, it could signal further losses and push the price towards $1.3. It is important for SUI to maintain support above $1.5 for it to gain renewed bullish interest and attempt further gains to renew October highs. In the short term, traders should keep an eye on the support at $1.75, which could be the starting point for another rally with increased buying volume.
Apecoin price trend in October 2024
Apecoin (APE) is a governance and utility token within the Ape ecosystem and is closely linked to the Bored Ape Yacht Club (BAYC) NFT collection. As the currency of the BAYC community, APE provides owners with access to exclusive benefits and the right to vote on governance decisions within the ecosystem.
In October, Apecoin's price trend showed both spikes and declines, at one point rising by a whopping 153%, with APE's value rising to around $1.75 before correction. Speculation about future NFT marketplace initiatives, including Apecoin, spurred buying interest. However, this surge was followed by a sharp correction, with the token’s value dropping by more than 40%, mainly due to increased market volatility and profit-taking activity.
Apecoin price prediction for November 2024: Possible rise to $2 if support holds at $1
As of October 26th, APE is hovering around $1.05, facing resistance near $1.23 and support at $0.67. Investors remain wary of market developments that could lead to a resurgence of bullish momentum.
For November, if Apecoin breaks above the $1 support level, it could retest the $2 resistance.
