🔥 APE Parabolic Rise: Minor Dip Or Big Break Out
Recently I made an analysis on APE and the break out through the $18 resistance area. Here I stated that my longer-term target was placed at the ATH around $28.
Since then, APE has seen significant gains. Investors are flocking to good performing alts because the remainder of the crypto market is fairly unstable at the moment.
During this huge move, an ascending wedge pattern appeared on the chart. Two things can happen; either we're going to see a massive break out to >$22 or we're going to see some consolidation. Watch for the lower support of the pattern to either hold or break.
If it holds, we can see a massive surge in price. This massive surge in price will most likely be sold off after a couple of days, be aware. If the support fails to hold, I'm expecting a temporary move towards the $18 area. A minor bearish correction would be the best thing for mid-term holders since it allows overbought indicators to cool off a bit.
Since then, APE has seen significant gains. Investors are flocking to good performing alts because the remainder of the crypto market is fairly unstable at the moment.
During this huge move, an ascending wedge pattern appeared on the chart. Two things can happen; either we're going to see a massive break out to >$22 or we're going to see some consolidation. Watch for the lower support of the pattern to either hold or break.
If it holds, we can see a massive surge in price. This massive surge in price will most likely be sold off after a couple of days, be aware. If the support fails to hold, I'm expecting a temporary move towards the $18 area. A minor bearish correction would be the best thing for mid-term holders since it allows overbought indicators to cool off a bit.
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