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Cryptoknowmics 2022-05-28 07:51:34

APE Technical Analysis: Parabolic Reversal Brings APE Into The Spotlight

APE price action shows a bullish attempt to bring a parabolic reversal for a $7.35 retest. Will the bullish turnaround retest the broken support level? Key technical points: APE market value inclined by 3.21% in the last 24 hours. Price action hints at a bullish reversal from $6. The 24-hour trading volume of Apecoin is $455 Billion, indicating a fall of 31.68%. Past Performance of APE Prices for APE fell 20% in the past two weeks after the descending triangle breakout, with the support level at $7.35. The downfall resulted in the retest of $6 with the formation of multiple bearish candles. However, the descent develops into a parabolic reversal teasing a potential retest of the $7.35 support level. Source-tradingview APE Technical Analysis The bullish reversal in the APE prices struggles to find buyers’ commitment as the trading volume shows a minimal growth compared to the previous bearish trend. This questions the possibility of a bullish trend sustaining to retest the $7.35 mark. The MACD and the RSI indicators suggest the possibility of a bullish reversal from the $6 bottom. This is because of the bullish divergence in the RSI and the bullish crossover in the MACD and signal lines. Moreover, the Stochastic RSI indicator displays the K and D lines rising higher in an uptrend to the overbought area following the bullish crossover. Therefore, the indicators show a high possibility of a bullish reversal to the $7.35 mark. In ...

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APE Technical Analysis: Parabolic Reversal Brings APE Into The Spotlight

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