According to crypto analyst Crypto Kaleo, ApeCoin (APE) may soon break out because of the positive narrative growing around cryptocurrencies linked to NFT projects. Kaleo made his opinion known in a post on X (formerly Twitter), noting that the APE could be next to follow the path of Blur (BLUR) and LooksRare (LOOKS).
In the last 24 hours, the price of APE has increased by 17.52%, data from CoinMarketCap revealed.
But compared to the performance of LOOKS and BLUR, ApeCoin still lagged behind. However, Kaloe explained his bias using the APE/BTC chart. From the chart shared, the analyst highlighted that High Time Frame (HTF) has been stuck in a downtrend for most of the year.
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