APECOIN ( APEUSD or APEPERP) appears to have broken out of its second consolidation.
The Weekly chart is a tad limited, but observable that it is less than a quarter from the high. Also noted that it recently made a significant dip to almost 3, and consolidated.
The Daily chart shows more intricacy with consolidation triangle broken out of on 18 July at about 5.00, after a bullish MACD divergence. It was VERY obvious then.
There after, some upward consolidation, and a resistance at 7.00.
Today, APE broke above 7, and what remains to be seen is how much more or how long it can hold above 7. Technical indicators have yet to crossover although price has bounced off the daily 55EMA (a bullish thing). Momentum and price performance, thus far have been well with APEUSD performing over 10% for the first half of the day.
Given what little there is of the weekly chart, it does look like APE has some technical potential. Stands out from the rest at the moment although it might be a tad late in the game. Watch the pullbacks for better entries...
The Weekly chart is a tad limited, but observable that it is less than a quarter from the high. Also noted that it recently made a significant dip to almost 3, and consolidated.
The Daily chart shows more intricacy with consolidation triangle broken out of on 18 July at about 5.00, after a bullish MACD divergence. It was VERY obvious then.
There after, some upward consolidation, and a resistance at 7.00.
Today, APE broke above 7, and what remains to be seen is how much more or how long it can hold above 7. Technical indicators have yet to crossover although price has bounced off the daily 55EMA (a bullish thing). Momentum and price performance, thus far have been well with APEUSD performing over 10% for the first half of the day.
Given what little there is of the weekly chart, it does look like APE has some technical potential. Stands out from the rest at the moment although it might be a tad late in the game. Watch the pullbacks for better entries...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.