Apecoin retests range lows – will bulls prevail?

APE hit a crucial range-low which could set a price reversal. But overall market uncertainty could push APE to the opposite direction.

. Notably, APE’s momentum and trend were bearish on the lower timeframe, which could further delay the expected recovery.Since June, APE’s price action chalked a descending channel, making range extremes and mid-range key price levels to be considered by market participants.The descending channel had clear levels that APE could retest in the next few hours/ days. But the potential levels a bearish could stop at wasn’t entirely clear.

If BTC rebounds from the $24.8k – $26k zone, APE could also bounce from the range lows near $1.5. Northwards, the mid-range and the range-high were vital resistance to clear. But a bearish breakout could ease at crucial and immediate levels at $1.345 and $1.16, as per the Fib tool. After attempting a reversal, the Relative Strength Index was forced back into the oversold territory. It illustrates the selling pressure that prevailed in the past few days.

Similarly, the Chaikin Money Flow struggled to cross above the zero mark over the same period. It underscores the muted capital inflows.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CryptoAmb /  🏆 22. in CA

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solana [SOL] bounces from range-low support, what’s next?Solana's [SOL] range-bound price movement continued after another price rejection at the range-high.
Read more »

Inflation-Protected Bond Bulls’ Pain Thresholds Get TestedA scrapped bullish wager on five-year Treasury inflation-protected securities offers a poignant example of how pain thresholds are being tested in government bond markets globally.
Read more »

What if the oil market bulls are wrong and this lonely bear is right?With inventories low and demand high, it looks as if the bulls are calling the market right. A supply surprise may yet emerge.
Read more »

XRP drops to 2022 support: When will bulls see respite?XRP's pullback hit a crucial support zone established in 2022, and could inflict a reversal. But a weak BTC could complicate matters for bulls.
Read more »

Cheese-burger flavoured ice cream, pink macaroni top food highlights at 2023 'Ex'The CNE's chief executive Darrell Brown says visitors to Toronto's Princes' Gates area can expect a range of unusual food
Read more »

Inflation quickens to 3.3% but core measure shows progressInflation ticked back above the Bank of Canada’s control range in July, but progress on underlying price pressures leaves room for policymakers to pause interest-rate hikes.
Read more »