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APE

APE Coin potential dump into rally** Disclaimer** I'm a novice trader working to put my thoughts out there to see how the stack up against the market - please feel free to share/comment on my thoughts - please don't use this chart as financial advice At this point, though, $APE coin sits in a precarious symmetrical triangle and has progressed quite deeply into it. It would suggest that APE is preparing for a move downward, and the predicted bottom price is ~$3. As my chart indicates, it has rejected its ATL resistance line three times. There could be a good reason for this leading to longer-term holders and speculative investors buying the coin when it hits its bottom. For the time being, I would wait to see how the coin stacks up in its triangle. Considerations and Fundamentals; $APE coin is a coin I've been following closely. As an artist with his own NFT collections, I enjoy looking at what influences the NFT market and how NFTS interacts with coins. For those that are not aware, NFTS, in theory, are deployed as tokens (same as coins) against a smart contract; however, their operability is adjusted slightly within the contract to do things like display an image. Many are unaware that the tokens, rather than ERC-20, are an ERC-721 standard, which is a convoluted way of stating that NFTs are non-devisable and non-fungible. $APE coin is a relatively controversial coin. Most view it as a scam driven by a bunch of Crypto Bros who hit it big with their Bored Ape Yacht Club offering, which rocketed to price heights a year after release. I have no idea why that token, in particular, did so well. Regardless, it has enabled Yuga Labs (the brain trust of BAYC) to absorb voluminous amounts of money to invest in other projects. Projects such as Meebits, Cryptopunks (an OG NFT - close to 5 years old), and establish "Otherside", an upcoming metaverse game I'm interested in and want to play. Two significant points of interest have had me bullish on $APE coin for much of this environment. Firstly, Otherside (the game) will utilise $APE coin as the mainstay currency. At this point, there is not enough information about the coin's utility in the universe or if people can potentially earn $APE coin through game mechanics; what it suggests is a future currency demand. Beyond that, a staking mechanism has been on the cards for some time. The $APE Coin DAO voted and passed the concept six months ago. Company Horizen has been the key partner in establishing and delivering this mechanism. In a very lazy, low-key twitter post - the test net version of the staking mechanism has been released for public testing. The mainnet version is due "soon" - but was initially earmarked for the 31st of October - most are currently assuming with little comms that the date may be pushed back - some speculating even into December. The short of the long is that this mechanism will allow Bored Ape collectors to stake their NFT within a pool for returns; however, there is a premium to stake your NFT. Two thousand odd Ape coins are required PER staked NFT. A prompt that will contribute to demand on the circulating supply of the coin further. With only 300m of the total supply in circulation and a good chunk of the coin being held by exchanges and early holders, I can see some short-term rallies coming. At this point it would be safe to remain out of APE coin - but do note there are points of interest for the large community invested in the ecosystem to soak up the circulating supply coming in the future, so it may be a coin to watch.
COINBASE:APEUSD
by Cryptoslothx
2
Third rejection soon be ready to short, 10k on the way!Hi Traders, We closed out some amazing profits on recent shorts yesterday (just as price began to reverse); XRP 0.53c -> 0.45 APE 5.2-> 4.2 BTC 20.3 -> 18450 I have now closed out the hedge longs with some small profits, they served their purpose. I have made a quick (and rough) line drawing to illustrate current price direction, we have a big break out coming soon. Now firmly believe and will be shorting this evening depending on how the US markets open, anticipation a small upward continuation overall but closing with some rejection wicks in critical areas. The same for BTC, anticipation a pump to the 20k area for the 3rd and final major fake-out rejection before slowly downward this weekend. MONDAY - has the making for a market crash, if one is historically wise they would know we have major pumps in the markets (2% for the stock market is on point) to clear late shorts and entice bulls BEFORE A MAJOR SELLING EVENT. So we are anticipation Sunday to be quite bearish for BTC and the smart money beings to exit the markets/MM remove liquidity holding price up. Tonight should be the shorting opportunity before continuing below the 18k supports. SO we are looking to up shorts on XRP/APE/ETH/BTC I have chosen these coins specifically for the added % return on the drop, XRP obvious given the recent rise/APE given it is breaking downward out of the massive H&S looking to hit $2 or lower/BTC and ETH for obvious reasons and they have been held up better than some alts which are already too low to short. Price would have to hit and hold above 20.8k for us to consider the bulls a chance as preventing such a collapse - but if we are honest, the macro environment is terrible and numerous events loom and catalyst for a dump to 10-12k (and the stock market similarly). Also KSI tweeted 21k incoming yesterday, one would say that is a prime top signal (joking) ha. I will follow this posting for the XRP/APE/ETH/BTC daily charts to show TP points for shorts... posting this in advance as an explanation. Goodluck, Asset Mastery
Short
by AssetMasteryandInvesting
2
APE head and shoulders pattern and trend lines#APE/USDT $APE shaped a head and shoulders pattern and broke down from ascending trend line. 🐻 so price can drop more to support zone that is the same with neck line of H&S pattern. then it will have a pullback to broken trend line and if reject from this line it will drop more to support zone around $3. 🐮 but holding the neckline as a support and break out from resistance zone will increase price toward upper ascending trend line. #women_life_freedom
by parissap
APEUSDT - TRADE PLANCheck out the trade plan for APE today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you! 👉🏻Keeping an eye on the short-term waves formed on this pair. 👉🏻Connected the higher lows formed to identify the trend line and find if the price respects the trend line one more time with a bullish reversal. 👉🏻Highlighted an important key level in play closer to the current market price if this level will support the price for a reversal expected.
Long
by traderchamp_
APE: market outlook for September 20The market is in the uptrend on the Daily timeframe. The market reached the support level a few days ago and the pullback buying opportunity was formed. Currently the price is around the resistance level and there is a chance that a correction wave may begin. In case of successful development of the trend, a more distant target will be on the highs of August 4 – 7, where the next resistance is located with the borders of $7.56 – $7.80. When breaking through the support, the trend will reverse and we should look for selling opportunities. The borders of this level are $4.56 – $4.63. Longs will remain relevant until the market is above the nearest support level on the Daily chart, the lows of September 15 – 17.
by JIexa1701