Despite crypto prices being mainly in the red at the start of the week, Apcoin was trading close to a two-month high on Monday. The global crypto market is currently down around 2% as of writing. Despite this, Filecoin continued its uptrend, with the price of the token rising by almost 70% over the past seven days.
Filecoin (FIL)
Filecoin (FIL) was once again a notable mover in crypto, as token prices rose for the seventh consecutive session.
The token hit an intraday high of $11.24 on Monday, the highest level since May 11, when the price was trading above $11.50.
Overall, FIL is currently trading around 70% higher than the same point last week, when the coin was trading as low as $5.10.
The rally started at this support point, with the bullish pressure intensifying as the day and week progressed.
This caused the 14-day RSI (Relative Strength Index) to peak at 83, its highest point since March 2021.
The earlier gains in FIL have now turned upside down after higher buying in prices and a close near the $11.25 resistance point.
FIL/USD is trading at $8.88 at the time of writing.
Apcoin (APE)
Apart from FIL, Apcoin (APE) was also in the green during Monday’s session, with prices trading near two-month highs.
APE/USD rose to a high of $7.26 in today’s session, less than a day after the token traded at $6.70.
Today’s move saw the token trade slightly below $7.30, its highest point since late May.
However, after a slight break above the $7.15 resistance level, the bullish pressure turned less and the price is now trading below the $7.00 level.
Taking a deeper look at the current daily chart on APE, you can see that the Relative Strength Index is currently at 64.28, close to a high of 65.
If this momentum continues, we can see that the bulls are attempting to retest the high resistance at $9.30.
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Can Apcoin reach this resistance level in August? Let us know your thoughts in the comments.
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