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.
France Dernières Nouvelles, France Actualités
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