The coin $APE is showing a classic "lower high" pattern on the 4-hour chart, indicating that the initial momentum, which started on April 25, has completely faded. The inability to hold above $0.20 suggests a potential deeper liquidity pull.
Trend: Short
• Entry Zone: $0.1550 - $0.1650
• Targets: $0.1320 / $0.1180
• Stop Loss: $0.1810
Technical Thesis: The recent spike towards $0.19 was met with strong distribution, leading to the formation of a bearish structure. The price is currently moving below the mid-range on the 4-hour chart with declining buy volumes. It seems that the news regarding "ApeChain" has been fully priced in, leaving the coin vulnerable to broader market sell-offs. The RSI is heading towards the 40 level but lacks the necessary divergence for a reversal. A break of the minor support level at $0.145 could likely accelerate the drop towards the key demand zone at $0.12.
Risks: Any sudden updates from "Otherside" or news regarding the Bored Ape ecosystem could trigger a spike in volatility, potentially targeting liquidity above the $0.18 level.
Has the trend of $APE towards the dedicated L3 network arrived too late to save the price action, or is this just a final "shakeout" before a recovery that could extend for months?
Trend: Short
• Entry Zone: $0.1550 - $0.1650
• Targets: $0.1320 / $0.1180
• Stop Loss: $0.1810
Technical Thesis: The recent spike towards $0.19 was met with strong distribution, leading to the formation of a bearish structure. The price is currently moving below the mid-range on the 4-hour chart with declining buy volumes. It seems that the news regarding "ApeChain" has been fully priced in, leaving the coin vulnerable to broader market sell-offs. The RSI is heading towards the 40 level but lacks the necessary divergence for a reversal. A break of the minor support level at $0.145 could likely accelerate the drop towards the key demand zone at $0.12.
Risks: Any sudden updates from "Otherside" or news regarding the Bored Ape ecosystem could trigger a spike in volatility, potentially targeting liquidity above the $0.18 level.
Has the trend of $APE towards the dedicated L3 network arrived too late to save the price action, or is this just a final "shakeout" before a recovery that could extend for months?