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APE Forms Bearish Reversal Pattern While Testing Double Top Neckline

Published 12/07/2022, 10:03 AM
Updated 12/07/2022, 10:30 AM
APE Forms Bearish Reversal Pattern While Testing Double Top Neckline

  • Apecoin is trading in a falling trendline for the past 24 hours.
  • APE could be setting up for a bullish reversal in the near term as it tests the neckline of a double-top pattern
  • There is potential for a short-term rally to $4.50 if the double top holds.

Apecoin (APE) price analysis indicates the altcoin is currently trading in a falling trendline, indicating that the overall trend is bearish. More specifically, Apecoin has formed a double top pattern near the weekly highs of $0.41882 and appears to be testing the neckline of this pattern at current levels of around $3.97.

(APE/USD daily chart:TradingView)

If this support ...

The post APE Forms Bearish Reversal Pattern While Testing Double Top Neckline appeared first on Coin Edition.

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