APE / TetherUSLong
APE: Channel Down Pattern
Ape Coin (APE) technical analysis:
Trade setup: Trading in a Channel Down pattern, attempting to break out. Price failed to break out once already and returned to the Channel Down. Wait for a breakout, ideally above $4 resistance. (set a price alert).
Pattern: Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $3.00. The nearest Resistance Zone is $4.00, then $5.00, and $6.00.
Trade setup: Trading in a Channel Down pattern, attempting to break out. Price failed to break out once already and returned to the Channel Down. Wait for a breakout, ideally above $4 resistance. (set a price alert).
Pattern: Price is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines. With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $3.00. The nearest Resistance Zone is $4.00, then $5.00, and $6.00.
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