Market
Will ApeCoin (APE) Price Drop Below $1?
ApeCoin (APE) price is down roughly 15% in the last 24 hours after rising more than 100% between October 19 and October 21. The MVRV suggests that many holders are still in a position of unrealized losses, indicating weak market sentiment.
The RSI also shows a shift from overbought conditions, implying that bullish momentum may have diminished. Despite some signs of support, key levels and trend indicators suggest that the current correction might not be over yet.
APE MVRV Shows an Important Signal
The APE 7D MVRV is currently at -11.85 %, which indicates that, on average, holders of APE tokens have experienced unrealized losses of 11.85% over the past week. MVRV (Market Value to Realized Value) is a metric used to assess token holders’ average profit or loss.
The 7D MVRV specifically looks at the profit or loss of investors who acquired their tokens within the last seven days. Negative values, like -11.85%, suggest that the majority of recent buyers are underwater, meaning they bought APE at higher prices than it is currently trading at.
Read more: ApeCoin (APE) Price Prediction 2024/2025/2030
Despite the current negative 7D MVRV reading, historical data from the past six months suggests that APE tends to make strong rebounds whenever the MVRV reaches the -13% level. This implies that there is often significant buying interest around such deeply negative MVRV levels, leading to a price reversal.
However, since the current MVRV value has not yet reached that historical rebound threshold, the ongoing correction may not be over, and further downside movement is possible before any significant recovery.
ApeCoin RSI Is Now Neutral After a Huge Surge
The APE RSI is currently at 45.68, having dropped from over 90 just a few days ago following a rapid 100% price surge in just two days. That happened after the announcement of ApeChain, Yuga Labs own blockchain. The RSI (Relative Strength Index) is a momentum indicator used to gauge whether an asset is overbought or oversold.
RSI values range from 0 to 100, with levels above 70 typically indicating an overbought condition—suggesting the asset may be due for a correction. On the other hand, values below 30 indicate an oversold condition, implying potential buying opportunities.
With the current RSI level at 45.68, APE is neither overbought nor oversold, suggesting a neutral momentum after its recent pump. This level indicates that the token is still in a corrective phase, with the potential for more downside movement before reaching oversold territory.
Since it has not yet dropped below the 30 mark, which would signal oversold conditions, the ongoing correction could continue further before any significant reversal occurs.
APE Price Prediction: Will It Go Below $1?
The EMA lines on the APE chart suggest a rapid change in momentum following the recent price pump. The shorter-term EMAs have sharply risen above the longer-term EMAs, indicating that bullish momentum was strong during the rapid surge.
However, with prices now pulling back to around $1.20, the narrowing gap between these EMAs suggests that the bullish momentum might be fading. The proximity of the EMAs also points towards potential consolidation or a lack of clear direction moving forward.
Read more: ApeCoin (APE): Everything You Need To Know
Regarding support and resistance, APE has several key levels to watch. Resistance levels are at $1.34, $1.47, and $1.82, the biggest price for ApeCoin since April. On the downside, support is marked at $1.12, $0.94, and $0.78.
If APE fails to hold the $1.12 support, further downside correction toward $0.94 or even $0.78 is possible. Conversely, if the uptrend appears again, APE price could test the $1.34 resistance and even try $1.47 after that.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
The crypto market watches with bated breath as XRP teeters at $1.97, a battleground where bullish conviction clashes with bearish determination. After a retreat from recent highs, the digital asset now faces a critical test.
The current standoff mirrors the broader tug-of-war in crypto markets, where sentiment shifts rapidly and key price levels dictate the next major move. For XRP, $1.97 isn’t just another number; it’s a line in the sand. A decisive hold here could reignite upward momentum, while a breakdown may embolden the bears.
Market Sentiment: Fear, Greed, Or Indecision?
According to Grumlin Mystery, a well-known crypto analyst, XRP is likely to experience a further downside in the near future, potentially dropping to $1.96. In his March 30th post on X, he highlighted that a decrease in liquidity within the crypto market is playing a crucial role in weakening XRP’s price stability, driven by the impact of US tariffs and the implementation of Trump’s policy changes.
Grumlin pointed out that restrictive trade policies and economic uncertainty have led to a slowdown in capital flow into riskier assets like cryptocurrencies. With reduced liquidity, market participants have less buying power, making it easier for bears to push prices lower. He warned that if these economic conditions persist, XRP could struggle to find strong support, and a drop below $1.96 could trigger further declines.
This drying up of liquidity has allowed sellers to gain the upper hand, exerting downward pressure on prices. As a result, XRP’s ability to hold support at $1.96 remains uncertain, and unless market conditions improve, a deeper correction could be on the horizon.
Grumlin Mystery further elaborated that a sharp change in Trump’s rhetoric regarding tariffs remains highly unpredictable, making it difficult to gauge its full impact on the financial markets, including cryptocurrencies. While many initially believed that Trump’s stance would be a major positive catalyst for the crypto market, the reality appears to be more complex.
The analyst emphasized that market uncertainty is increasing as traders struggle to anticipate the next move in U.S. economic policy. If Trump maintains or intensifies his tariff approach, it could further tighten liquidity conditions, making it even harder for XRP to sustain bullish momentum.
Possible Scenarios For XRP
If buyers successfully defend the $1.96 level, XRP could see renewed upside momentum. A bounce from this support zone might trigger a rally toward $2.64, where the next resistance lies. A breakout above this level raises the potential to $2.92 or even $3.4, confirming a bullish recovery. Increased trading volume and improving market sentiment would be key indicators of this scenario playing out.
Sellers’ failure to maintain control and XRP’s failure to hold above $1.96 may cause a sharper decline. In this case, the next critical support levels to watch would be $1.70 and $1.34. Breaking below these levels could expose the asset to more losses to $0.93 or lower.
A new report shows that Binance almost has a monopoly in the CEX market in terms of crypto airdrop distribution and staking rewards. In 2024, the exchange received $2.6 billion of a total of $2.7 billion in rewards, amounting to 94% of the entire market segment.
In an exclusive press release shared with BeInCrypto, Binance also revealed that it’s making substantial changes to its airdrop services to improve user experience and make participation easier.
Binance Leads the Market in Crypto Airdrops
Binance, the world’s largest crypto exchange, has become the go-to platform for airdrops and staking rewards. It launched the HODLer airdrop program less than a year ago, providing many new projects with a comprehensive platform to reward early adopters.
In the past year, the exchange has become synonymous with the latest airdrops, as most users are accessing their rewards through the platform.
Based on this impressive performance in the airdrop sector, Binance has substantially upgraded a few of its services. The platform has revamped its Launchpool and BNB Earn pages, making it easier for users to both track and participate in airdrops.
“With these upgrades, we’re making it easier than ever for users to unlock the full potential of BNB and participate in high-quality token launches. The redesigned Binance Launchpool and BNB pages reflect our commitment to user education, simplicity, and maximizing rewards,” said Jeff Li, VP of Product at Binance.
The updated BNB page will give Binance users key benefits, such as real-time information on airdrops across its platforms, including Launchpool, Megadrop, and HODLer Airdrops.
Users will also see features like trading fee discounts, VIP perks, and a historical rewards section. These improvements are designed to help the firm maintain its significant dominance while continuing to focus on integrity.
Hopefully, these improvements will allow the firm to maintain its significant dominance while maintaining its usual integrity. Last month, Binance Research identified some systemic problems with airdrops in general, and the exchange seems particularly concerned with its reputation.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Pi Network (PI) has experienced a significant downtrend recently, with price declines that have left many holders facing losses.
The altcoin has failed to break free from this negative momentum, and the market conditions continue to worsen. As a result, investors are losing confidence, and the price may continue to drop further.
Pi Network Continues To Suffer
The Chaikin Money Flow (CMF) continues to show bearish signs, remaining well below the zero line. This indicates that the network is suffering from outflows, meaning that investors are moving their funds out of Pi Network. Despite a bullish start, Pi failed to sustain interest, leading many holders to sell off their positions.
The outflow trend is concerning for investors, as the lack of positive momentum suggests a prolonged downtrend. The market sentiment remains bearish, with sellers outweighing buyers. As the CMF stays in the negative zone, it signals that Pi Network’s price could struggle to find stability in the short term.
The Ichimoku Cloud, a widely used technical indicator, is hovering well above the candlesticks, signaling that the bearish trend is gaining strength. This indicates that there is little upward momentum in the market, and Pi Network is likely to face more downward pressure.
Additionally, broader market conditions are still negative, which suggests that Pi Network may fail to recover in the immediate future. With bearish technical indicators and a lack of support from investors, the outlook for Pi Network remains grim for now.
PI Price Hits A New Low
Pi Network is currently priced at $0.61, having formed a new all-time low of $0.60 after dropping by nearly 14% over the last 24 hours. The altcoin continues to struggle under the weight of negative sentiment and is not showing signs of reversal in the near term.
Based on the ongoing outflows and bearish technical indicators, Pi Network will likely continue its decline. It could fall further to $0.50, potentially forming new all-time lows. The current market conditions suggest that recovery is unlikely without a significant shift in sentiment.
However, if Pi Network can bounce off the $0.60 level, it might regain some support and climb back to $0.87. This would help recover some of the recent losses and potentially give the altcoin another chance at a bullish move. But, without a strong catalyst, it may struggle to break through the resistance levels.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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