APE/USD - Weekly Overview

Looking at the Apecoin technical chart, the price level has faced significant selling pressure since August and is almost down by 43.00% since then. Considering the current trend, APE is struggling between 0.236 FIB level to 0.382 FIB level. Above 0.382 FIB level, there’s a strong resistance zone in which the price level is unable to maintain sustainability. MA-50 has also faced a negative crossover against MA-20 which can be an indication of an upcoming bearish trend

The MACD level also in the potential to have a bearish crossover while the RSI level is looking vulnerable to a breakdown below 50. Overall, the technical chart reflects a bearish formulation for Apecoin and a word for caution for the upcoming days.

Resistance: $5.50 and $6.50
Support: $4.00 and $3.50


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