#ApeCoin $APE: Bullish, approaching support
Trade setup: Price broke out of Channel Down pattern, which could signal a bullish trend reversal with +15% upside potential to $1.50. Stop Loss (SL) level at $1.12 (below prior swing low). It's successfully retested that breakout. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.
Pattern: Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7.
Trade setup: Price broke out of Channel Down pattern, which could signal a bullish trend reversal with +15% upside potential to $1.50. Stop Loss (SL) level at $1.12 (below prior swing low). It's successfully retested that breakout. This is a riskier trade setup because it’s a trend reversal not a trend continuation setup. It’s against the overall downtrend.
Pattern: Price is Approaching Support, which is a level where it could pause or reverse its recent decline, at least temporarily. Support is often a level where price has bounced up in the past, or potentially prior Resistance level that was broken. (concept known as polarity). Once price breaks below support, it can move lower to the next support level. Learn to trade key levels in Lesson 7.
$APE is Bullish, Resistance Breakout
APE price is in a Downtrend, however, there are improvements. Following a breakout from Falling Wedge pattern, price has made a Higher Low and Higher High, which is a positive sign of potential bullish trend reversal. Price broke above $0.80 and could revisit $1.00 next for a +25% potential gain. Stop Loss at $0.64.
Full #Apecoin analysis: https://altfins.com/technical-analysis
APE price is in a Downtrend, however, there are improvements. Following a breakout from Falling Wedge pattern, price has made a Higher Low and Higher High, which is a positive sign of potential bullish trend reversal. Price broke above $0.80 and could revisit $1.00 next for a +25% potential gain. Stop Loss at $0.64.
Full #Apecoin analysis: https://altfins.com/technical-analysis