In the past few months, due to the release of some leading NFTs fell short of expectations, the total market value and transaction volume of the NFT market continued to decline. As the leader in the NFT market, BAYC once tried to develop new NFT collections and games in an attempt to ignite the NFT market again, but failed. The price of APE, its token, continues to decrease.
We conducted a brief analysis of APE earlier. Considering that APE continues to hit new lows, it is difficult to find suitable support levels, as well as the weakness of the bulls, we believe APE will continue to fall. Although the price of APE decline, trading volume has remained above average since June.
Judging from the MBF indicator, after entering September, the bottom-buying sentiment has increased significantly, which is higher than the bottom-buying sentiment at other date in the half year. Moreover, this round of bottom-buying sentiment has many cones, not a single cone.
At the weekly level, APE’s recent bottom-buying sentiment is also significant.
In summary, higher than past trading volume and significant bottom-buying sentiment may cause APE to rebound in the future.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
We conducted a brief analysis of APE earlier. Considering that APE continues to hit new lows, it is difficult to find suitable support levels, as well as the weakness of the bulls, we believe APE will continue to fall. Although the price of APE decline, trading volume has remained above average since June.
Judging from the MBF indicator, after entering September, the bottom-buying sentiment has increased significantly, which is higher than the bottom-buying sentiment at other date in the half year. Moreover, this round of bottom-buying sentiment has many cones, not a single cone.
At the weekly level, APE’s recent bottom-buying sentiment is also significant.
In summary, higher than past trading volume and significant bottom-buying sentiment may cause APE to rebound in the future.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
