Apecoin (APE)'s increasingly encouraging performance for three days in a row managed to give its price a jump of 13.2% breaking through the resistance level around $4.20.
The following breakout can give investors an opportunity to buy the Apecoin again as it is expected to break through the $5.10 zone.
Among the causes of the price increase is when 57.5 million APEs worth $247 million have been staked (staking) with around 21% funded by the ApeCoin Foundation.
Be informed that the crypto exchange company Binance has launched the Ape non-fungible token (NFT) Staking program that allows users to stake NFT Bored Ape Yacht Club (BAYC) or Mutant Ape Yacht Club (MAYC) on Binance to earn APE.
The purpose of the following launch is understood not only to reduce supply in the market, but also to increase the growth of market value.
Earlier, over the past seven months as investors aggressively sold their holdings of digital assets, the price of APE continued to decline drastically, but now bounced back from the $2.88 support level.
The streak, the price of APE is expected to advance further to 18.5% by reaching the target at $5.14 and continue the rise past the price of $9 if the crypto market manages to continue the positive momentum.
As of this writing, the price of APE is recovering by hovering in the $4.24 zone with the expectation of rebounding to higher levels after this.
