Crypto Price Analysis July 18: APE, RUNE, CVX, AXS, NEAR

Key Insights:

• ApeCoin emerged as one of the leaders, rising by almost 25%.
• ThorChain’s RUNE followed suit with an 18% rally.
• Bitcoin and Ethereum both shot up to trade at $22.3k and $1.4k.

As the market entered the recovery mode today, every altcoin, with the exception of one or two, switched gears and rallied ahead.

The king coin and the altcoin king too supported this incline, with each rising to trade at $22,332 and $1,488, respectively.

ApeCoin (APE)

The Bored Ape Yacht Collection (BAYC) NFT collection token was one of the best-performing assets in the entire crypto market, rising by almost 25% in the last 24 hours. Trading at $5.9, APE could be seen inching close to the next major resistance of $6.42.

The Awesome Oscillator supported this rise with the appearance of green bars, indicating rising bullishness.

ThorChain (RUNE)

The altcoin did not hold back either as the broader market rally propelled RUNE to trade at $2.54, marking an 18.03% rise from yesterday’s close.

Going forward, the cryptocurrency could witness growth as the Bollinger Bands’ divergence highlights rising volatility in favor of a bullish momentum thanks to the candlesticks’ presence above the basis.

Convex Finance (CVX)

CVX inched closer to recovering the 67.83% losses it witnessed during the June crash as the altcoin rose by 14.66% today to trade at $7.13.

The rise is completely organic, as made evident by the Chaikin Money Flow’s uptick in the bullish zone. This could help CVX continue rising to reclaim $10.

Axie Infinity (AXS)

The GameFi token did not mark a rally as significant as the other altcoins on the list, but it did not disappoint either. Up by 9.95% in the last 24 hours, AXS could be seen trading at $15.8 at the time of writing.

Additionally, according to the MACD, the presence of bullishness on the asset will help it recover the 46.46% downfall it noted last month.

Near Protocol (NEAR)

The DeFi token finally gained some momentum this week to recover the 48.07% losses it witnessed during the June crash. Up by 12.48% today, NEAR could be observed closing in on reclaiming $4 as support at the time of writing.

This is bound to happen as the asset’s Relative Strength Index (RSI) entered the bullish zone today after lingering below it for almost three months now.