Since its release on May 22 this year, ApeCoin has experienced lots of challenges. To date, its prices have steadily decreased. The difficulties started in the middle of the May–June crypto market meltdown. Although ApeCoin was designed to aid the APE project on its Web3 journey, the token’s price has recently broken to a bearish structure after falling below the $5 support level. If the bearish structure continues to gain ground, does that mean a rally is imminent? As of this writing, APE is trading at $4.72, down 7.6 percent in the last 24 hours, data from Coingecko show, Wednesday. Related Reading: Huobi Token Spikes Nearly 30% In Last 24 Hours As HT Seen Rising On Revival Plans Chart: TradingView Support For Current Price Range There is a price range of $4.3145-$6.4290 for the coin right now. The aforementioned $4.3145 range is providing support for the current trading range. In August, bulls used the latter method to try to break over the $7 resistance level. The token has recently established a bearish XABCD pattern, often known as a double triangle. When the token’s price fell below the $5 support level it had been hovering above since the middle of September up to October 10, the bearish pattern intensified. The market’s reaction to this apparent price break was strongly bearish, and the resulting sell-off drove prices down by 19.43%. The market is currently trading in the green, though, as investors ...
