ApeCoin (APE) has been under sustained selling pressure, continuing its downward trajectory as the bears maintain their grip on the market. t
ApeCoin recently hit its all-time low on the 5th of August. Can the bulls step in to provoke a trend reversal?The altcoin’s derivatives data showed a clear bearish edge, with the long/short ratio on Binance reigniting some recovery hopes for buyers.The crypto’s recent price action suggested that sellers have been in control, with APE struggling to find support at key levels.
The 200-day EMA, at $1.197, was far above the current price, further reaffirming the bearish sentiment. For a bullish reversal, APE needs to reclaim and sustain above the 20-day EMA. A move above this level could encourage more buying and potentially lead to a test of the $0.87 resistance. On the upside, if the bulls manage to push the price above the 20 EMA, we could see a short-term rally towards the $0.771 and $0.87 resistance levels.PER AMBCrypto’s looking at the derivatives data, the overall volume has decreased by 23.36% and Open Interest has dropped by 3.11%, indicating that traders were reducing their positions in APE.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$160M token unlock: SAND, ARB, APE set to flood crypto marketAugust sees a flurry of Token Unlock events, with major projects like Sandbox, Arbitrum, and Apecoin set to release tokens.
Read more »
Ottawa calls $8-million price tag for animal captivity bill speculative, prematureOTTAWA — The parliamentary budget officer says a proposed law to prohibit keeping elephants and great apes in captivity could cost up to $8 million to administer over the first five years.
Read more »
Ottawa calls $8-million price tag for animal captivity bill speculative, prematureOTTAWA — The parliamentary budget officer says a proposed law to prohibit keeping elephants and great apes in captivity could cost up to $8 million to administer over the first five years.
Read more »
Ottawa calls $8-million price tag for animal captivity bill speculative, prematureOTTAWA — The parliamentary budget officer says a proposed law to prohibit keeping elephants and great apes in captivity could cost up to $8 million to administer over the first five years.
Read more »
Ottawa calls $8-million price tag for animal captivity bill speculative, prematureProposed bill to prohibit great apes, elephants from being kept in captivity in Canada could cost $8-million over five years
Read more »
Cardano’s recovery run – Here’s the ‘winning formula’ that might help itIs it finally time to ape into Cardano? We recommend first understanding why it has been lagging behind its rivals...
Read more »