APESUSD Analysis: The Apes Price Bulls Signal A Breakout Above The Symmetrical Triangle

The chart of the APES/USD pair on a 1-hour timeframe reveals a symmetrical triangle pattern formed by a bearish trendline and a rising support line, indicating a potential breakout.

The price of APES has dropped by 5% over the last 24 hours, trading at $0.02194 as of 7:15 a.m. EST on a 24% decrease in trading volume to $6.4 million.

Bulls Signal A Breakout In APES Price From A Symmetrical Triangle

A 1-hour timeframe chart of the APES/USD pair shows a symmetrical triangle pattern formed by a bearish trendline and a rising support line, indicating a potential breakout.

The symmetrical triangle pattern shows the price between the bearish trendline, which acts as resistance, and the rising support line, suggesting a consolidation phase.

The current price is around $0.02167, indicating a slight decrease of about 0.97%.

APESUSD Analysis Source: Dextools.io

The 50 Simple Moving Average (SMA) is trading around $0.0226, indicating that the price is slightly below this short-term moving average, suggesting mild bearish sentiment.

Meanwhile, the 200 SMA is near the current price at around $0.02197, placing the price at a critical point.

The Moving Average Convergence Divergence (MACD) is currently in the negative zone, with the MACD average line below the signal line, indicating ongoing bearish momentum.

The Relative Strength Index (RSI) is at 45.11, indicating a neutral position, meaning the market is neither overbought nor oversold.

Apes Price Prediction

There is a strong potential for the price to break above the upper trendline if the buying momentum continues. A bullish breakout could target a price of around $0.040, indicating a significant upside move.

Conversely, if the price breaks below the rising support line, it could signal further bearish pressure, with the next key level of support around $0.015.

This suggests that while the market is currently indecisive, the next breakout direction will set the stage for the subsequent price movement, making it crucial for traders to watch these critical levels closely.

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