Price seeks a bullish breakout at this trendline after the recent recovery. Price rejection and diminishing volume suggest a price reversal despite prices swinging below this barrier.
The descending triangle controls the current price trend of Apecoin.
the past four months along a descending trendline.
Price returns to this trendline after the most recent recovery and attempts a bullish breakout. Although prices are swaying beneath this barrier, the increased price rejection and declining volume point to a potential price reversal.
The present price movement in apecoin is governed by the declining triangle. The pessimistic argument will be countered by the bullish breakout from the resistance. The $180.5 Million intraday trading volume in apecoin indicates a 5% loss.
A positive reversal from the $2.8 support was visible in the Apecoin price during the recent cryptocurrency market recovery. Within a fortnight, the U-shaped recovery increased prices 50%, hitting both the $4.2 barrier and the downward-sloping trendline.
The coin price did, however, lately see a slight decline due to the market's continuous ambiguity before retesting the resistance noted above. The sellers are strongly maintaining this barrier, as evidenced by the daily chart's greater price rejection during both of these trials.
These rejection candles indicate that the price of apecoin is likely to drop below the $4.2 resistance level and resume its post-pullback slump. The altcoin should fall and lower retest the $2.8 support if there is persistent selling. However, in a scenario with a poor market, the price can breach the $20.7 support, according to CoinGabbar.
On the other hand, a bullish breakout from the trendline will indicate a trend reversal before it happens.
MACD: Weakness in the buying momentum is indicated by the gap closing between the MACD's bullish alignment and the signal lines.
EMAs: A downtrend is clearly visible when the important EMAs (20, 50, 100, and 200) are trending downward. Additionally, the resistance trendline along with the 100-day EMA offers sellers an extra advantage.
Resistance level- $4.2 and $5.12
Support level- $2.3 and $2.85
