Biggest Movers: APE Hovers Close to 2-Month High, FIL up Nearly 70% in Last Week

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.

Earning Passive Income With Crypto

Related Posts

SHIB Metaverse: How Will it Impact the Price of Shiba Inu?

SHIB Metaverse: Shiba Inu is one of the best-known cryptocurrencies on the market, and was launched in August 2020. A little over 5 months ago, it announced…

PoW Miners Rake in Profits Mining ETH Until the End, Ethash Networks Expect a Boost, JPMorgan Strategists Say ETC Could Benefit

In just over a month’s time, The Merge is likely to be implemented on the Ethereum blockchain and the network’s proof-of-work (PoW) miners will be forced to…

Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value

2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based…

Weekly NFT Sales Show Improvement, Fantom and Immutable X NFT Volume Spikes

Non-fungible token (NFT) sales managed to climb higher during the last seven days than the previous week’s overall sales. This week’s NFT sales managed to jump over…

Aave Responds to Blocking Addresses Over Tornado Cash Clampdown

DeFi lending protocol Aave Protocol said the TRM API on its app was responsible for blocking addresses that received ETH from unknown sources through Tornado Cash. In…

Brazilian Crypto Investment Platform Bluebenx Stops Withdrawals Under Hack Allegations

Bluebenx, a Brazil-based cryptocurrency investment platform, suspended withdrawals last week due to an alleged hack that made the company lose more than $31 million. The company announced…