ApeCoin (APE) Price Breaks Out While Monero (XMR) Hits New Highs – Here’s the Outlook

2024-12-4 15:45

These tokens, ApeCoin and Monero, have been making waves in the crypto market lately. ApeCoin has emerged from a prolonged downtrend, with significant gains in price and trading volume. Meanwhile, Monero has achieved a key breakout, pushing its price to new highs. Some elite analysts have highlighted these developments on X (formerly Twitter), adding to the growing market enthusiasm.

Read Also: Why Is Bitcoin (BTC) Price Trading Sideways? Key On-Chain Metrics to Watch

ApeCoin Price Surges with Breakout Momentum

The price of APE has surged by 18.45% in the past 24 hours, reaching $1.93, signaling a robust breakout from its downward trendline on the daily chart. This upward move was accompanied by a staggering 99% increase in trading volume, reflecting heightened interest from investors. The token has shown strength after bouncing off a solid support range of $1.00-$1.20, which has historically acted as a price floor.

Prominent analyst Crypto.Ronald expressed strong optimism on, describing the move as “breakout & ready for skyrocket.” He also highlighted ApeCoin’s potential to lead a renewed “NFT season,” suggesting the token could benefit from broader market narratives tied to NFTs.

Key resistance levels lie ahead at $4.72, $5, and $6, which traders will monitor closely. While the breakout signals bullish momentum, market participants remain cautious about the possibility of a retest of lower support zones if buying pressure weakens.

Image Source: X/Crypto.Ronald

Read Also: Why is Tron (TRX) Price Up

XMR Price Climbs Amid Bullish Sentiment

Monero has also seen a decent price increase of 14.85% over the past day, crossing the $200 resistance zone on its weekly chart. The token’s trading volume surged by 72.12%, underscoring strong buying activity and investor confidence. This breakout ended a prolonged consolidation phase, which kept Monero’s price trading within a range of $120-$200 for over a year.

Popular analyst Chimp of the North captured the market sentiment, proclaiming, “Resistance broken, we’re going to Valhalla ladies!” The bullish momentum is supported by a strong weekly breakout candle, pointing to the possibility of further gains.

Resistance at $300 and $400-$450 could act as future barriers, but the $200-$220 range now serves as a solid support zone. Traders are keeping an eye on whether Monero’s price can sustain its momentum or face potential retracements.

Image Source: X/ChimpOfTheNorth Outlook for APE and XMR

These tokens have delivered strong performances, supported by sharp increases in price and trading volume. ApeCoin’s surge is tied to its potential role in an NFT market revival, while Monero benefits from growing interest in privacy-focused cryptocurrencies. 

Finally, the near-term outlook will depend on whether these tokens can sustain their momentum and overcome key resistance levels. Investors are encouraged to monitor trading activity and broader market conditions as these trends unfold.

Read Also: PEPE Meme Coin Shows Fresh Technical Signals as Market Analyst Projects New All-Time High

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The post ApeCoin (APE) Price Breaks Out While Monero (XMR) Hits New Highs – Here’s the Outlook appeared first on CaptainAltcoin.

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Monero (XMR) на Currencies.ru

$ 219.61 (+1.21%)
Объем 24H $138.605m
Изменеия 24h: 0.68 %, 7d: 14.72 %
Cегодня L: $209.95 - H: $221.12
Капитализация $4.051b Rank 36
Цена в час новости $ 191.5 (14.68%)

monero price apecoin highs new downtrend prolonged

Источник: captainaltcoin.com

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