As much as 5% was added to the price of Apecoin on Wednesday, making it the fourth consecutive session in which it has gained value
As a result of today’s surge, the token is at its highest level since last Friday
Another notable gainer on hump day was helium, which rose by 14% earlier in the day
As prices of the token rose again on Wednesday, Apecoin (APE) was one of the biggest movers.
Wednesday saw APE/USD rally to an intraday peak of $5.50, less than a day after trading at a low of $5.08.
As a result of today’s surge, APE moved further away from its $5.00 floor, and climbed higher towards a key resistance level of $5.80.
Although it appears that bulls may be able to recapture this ceiling, there seem to be some significant obstacles ahead, which could prevent prices from rising any further.
Looking at the chart, the 14-day relative strength index (RSI) is currently tracking at 37.87, which is marginally below the resistance level of 40.
Should APE bulls want to move beyond $5.80, and potentially break into $6.00 territory, then they will need to overcome the upcoming ceiling.
Whilst APE was a notable mover on Wednesday, Helium (HNT) was one of the day’s biggest gainers.
Following almost 12 days of lower lows, which landed the token at a bottom of $6.30 on Monday, HNT rallied to a six-day high earlier today.
HNT/USD surged to a peak of $7.66 during Wednesday’s session, which is the highest point the token has traded at since last Thursday.
Today’s rebound saw HNT marginally break out of its resistance level at the $7.55 mark, attempting a similar rally to what occurred on May 30.
On that occasion, helium saw its price jump by almost $3.00, moving from $7.38 to a high of $10.32.
History has yet to repeat itself, with the token trading below earlier highs as of writing, and traders likely securing profits opposed to holding on to previous positions.