ApeCoin’s price recently showed some signs of recovery after a bullish breakout from a down-channel pattern. After consolidating around the $
ApeCoin bulls eye a key breakout, but resistance at current levels could slow momentum. Can buyers expect a breakout rally?recently showed signs of recovery after a bullish breakout from a down-channel pattern. After consolidating around the $0.54 support, APE saw the much-needed push above the 20-day and 50-day EMAs.However, the breakout pushed the price above both the 20-day EMA and the 50-day EMA , suggesting renewed buying interest.
It’s worth noting that the relative strength index has reached higher highs over the past two months, while the price action’s highs have remained flat.If this divergence plays out, APE could face a temporary downtrend. The altcoin could witness a pullback to retest the EMAs around $0.73. The critical resistance zone near $0.87 posed some challenges for bulls. A decisive break above this zone could open a path toward the 200-day EMA, which stood near $1.04 at press time.
This uptick indicated that traders were positioning themselves for potential volatility, likely expecting further price action either toward or away from the $0.87 mark.
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