The post Traders, ApeCoin’s Bull Flag pattern is likely to play out THIS way! appeared on BitcoinEthereumNews.com.

Bull flag pattern pointed to breakout towards altcoin’s $2.168 resistance At press time, netflows revealed a positive change of +$34.8k in just 24 hours ApeCoin has shown promising signs of growth recently, fueled by a hike in market activity and bullish technical indicators. In fact, the altcoin’s price rose by 3.24% in 24 hours to trade at $1.61, at the time of writing.   On the metrics front, a surge in large transaction volumes and positive netflows indicated strengthening market sentiment. On the other hand, a bull flag pattern on the charts alluded to a breakout towards higher resistance levels.  As a result, many ApeCoin traders are now anticipating a hike in the altcoin’s value in the near term. Large transaction volume continues to surge ApeCoin’s recent performance has been marked by large transaction volumes, signaling strong investor interest. In the last 24 hours alone, large transactions amounted to $30.49 million, with a peak of $38.22 million on 10 December. Source: IntoTheBlock  Over the last few months, the token has consistently attracted large trades, showing greater attention from institutional and high-volume investors.  This growing market interest has likely contributed to the steady hike in ApeCoin’s price, especially in late October and early December. ApeCoin netflows underline growing confidence The uptick in ApeCoin’s netflows further emphasized the growing confidence in the token. Over the aforementioned period, netflows saw a positive change of +$34.8k, with a significant hike of +$8.82 million over the past week.  These movements are a sign of greater demand for the altcoin, especially as more investors are now moving funds into ApeCoin.  Source: IntoTheBlock The larger trend over the past month revealed netflows totaling +$1.43 million – A figure which strongly aligns with the price hike, reinforcing the optimistic outlook for ApeCoin. Bull Flag pattern points to breakout At…

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Filed under: News - @ December 15, 2024 5:02 am