Will APE Leave this Declining Pattern?

ApeCoin price prediction showcases the fall of APE crypto inside an interesting declining pattern over the daily time frame chart. APE crypto has been slipping since January 2023 and has been trying to sustain but failed. ApeCoin cryptocurrency is now preparing to break out from the falling wedge pattern and may grow significantly by the end of 2023. However, the slippage in APE crypto since the start of the year could create panic in the cryptocurrency market. 

ApeCoin price was at $1.126 and has slipped by 0.09% during the day’s trading session. Trading volume has decreased by 16.53% intraday which demonstrates that sellers are trying to pull APE crypto towards the lower trendline. Volume to market cap ratio was at 8.67%.

ApeCoin is Oversold – RSI

ApeCoin price prediction highlights the fall of APE crypto since the start of 2023. Bulls tried to provide the much needed kickstart to the token but were unsuccessful. The volume change is below average to enable APE to escape from the falling wedge pattern over the daily time frame chart.

APE Crypto gained around 1.26% over the course of a week but declined by 24.80% within the past month. Looking further back, the APE price has slipped approximately 48.51% over the last three months, and a substantial 72.66% over the last six months. Additionally, year-to-date, ApeCoin price shed 69.03%.

Technical indicators are pretty divergent over the price action of APE crypto. Relative strength index (RSI) shows the struggle of APE inside the oversold territory. However, moving average convergence divergence (MACD) suggests that APE crypto will rise. 

RSI was at 27 and is flat inside the oversold territory. The MACD line is above the signal line after a positive crossover. Investors in ApeCoin cryptocurrency need to wait until the crypto price sustains at the upper trendline of the declining wedge pattern.

Summary

ApeCoin price prediction showcases the fall of APE crypto inside an interesting declining pattern over the daily time frame chart. Volume change is below average. Additionally, year-to-date, ApeCoin price decreased by 69.03%. Technical indicators are pretty divergent over the price action of APE crypto. Investors in ApeCoin cryptocurrency need to wait until the crypto price sustains at the upper trendline of the declining wedge pattern.

Technical Levels

Support Levels: $1.090 and $1.060

Resistance Levels: $1.180 and $1.315

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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