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...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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.
Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Jupiter Crypto Trading on Its Own Fundamentals: JUP USD Breaks Away From Market Sell-Off
Jupiter (JUP) is refusing to follow the crypto market lower. While Bitcoin and major altcoins are experiencing a bloodbath, the So...
Russia Sets November 22 Start for Exchange Crypto Trading, Subject to Approval
TL;DR: Russian exchanges may begin cryptocurrency trading from November 22 if their trading rules receive the Bank of Russia’s con...
Claude AI Predicts a Monster XRP Move Ahead of Anthropic IPO
Ahead of the upcoming Anthropic IPO, one of the most highly anticipated public stock launches in recent history, its Claude AI pre...
Crypto News Today: Bitcoin Loses $72K as $550B Vanishes From Cryptocurrency Market
The decline followed a broader deterioration in investor sentiment, with more than $550 billion reportedly erased from the cryptoc...
Thailand SEC Proposes Stablecoin Rules With 5M Baht Daily Caps for Crypto Transfers
Key Takeaways: Thailand suggests that daily deposits and withdrawals for stablecoins should be capped at 5 million baht. Only veri...
LIVE – Why Is Crypto Down? $14.2B Stablecoin Drain Turns a Bad Morning Into a Market-Wide Rout
Why is crypto down? Bitcoin crashed below $69,000 just now, dragging the crypto markets into another brutal selloff. Ethereum slip...