ApeCoin (APE) price is nurturing a recovery rally after it consolidated in a horizontal motion. It comes even as altcoins reacted to the spot Bitcoin (BTC) exchange-traded funds (ETFs) theme. With the metaverse and gaming narrative gaining steam, APE appears to be finding tailwinds to resist the growing overhead pressure. ApeCoin (APE) price faces overhead resistance due to the soon-to-be confluence between the 100 and 200-day Simple Moving Averages (SMAs) at $1.48 and $1.50, respectively, reinforced by the 50-day SMA at $1.57. If the bulls increase their buying power, ApeCoin price could push north to shatter the resistance due to the SMAs, with a possible extension to the $1.80 resistance level.
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