APEUSDT → A distribution could follow from the bottom of 1.730

2023年8月12日

APEUSDT is trying to develop a bullish scenario. The prolonged bearish trend may end, but buyers will have to take and hold a few positions to do so

While bitcoin is testing a strong support area and is in the correction phase, APE is breaking the descending wedge resistance and forming a local wedge. In this case, we are interested in resistance at 1.836 and 1.990, the latter being the resistance area of the wedge.
It is enough for the bulls to break one of the levels and form the liquidity area, which will allow to start the strengthening and distribution phase after consolidation.
The price tested the bottom at 1.730, the market reacts with a small bounce.
MA-50 resistance may be tested soon, market may give a small bounce before breaking the resistance and further up towards 2.793



Support levels: 1.836, 1.730
Resistance levels: 1.990, MA-50
I expect the growth to continue after the breakout of the mentioned resistance area. Medium-term potential - 2.793, 4.528.

Regards R. Linda!