APEUSD Anticipates a Further Bearish Momentum Trend
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Price Analysis: The Market Ended its Bullish Momentum as it Encountered a Bearish Trend Reversal
In early June 2024, APEUSD underwent a significant structure shift, marking the commencement of a bearish trend that has persisted into the current trading landscape. This period has been characterized by a series of bullish and bearish fluctuations, typical of a volatile market environment.
APEUSD Key Levels
Demand Levels: $0.500, $0.250
Supply Levels:$0.810, $1.070
Notably, in late September 2024, APEUSD experienced a substantial bullish surge, momentarily eclipsing the prevailing bearish sentiment. This rally was significant enough to challenge the bearish dominance, but it was short-lived. The failure to sustain this bullish momentum resulted in APEUSD reentering the bearish trend that had been dominating price action.
Technical analysis reinforces this perspective, with the daily Moving Average serving as a key indicator. The current price positioning below this Moving Average underscores the bearish narrative. Complementing this on the shorter time frame, the 4-hour chart reveals a decline from a 4-hour order block, suggesting that the market is targeting lower price levels.
Market Expectation
In the current phase of the bearish trend, there is an anticipation of APEUSD breaching the $0.500 threshold as it navigates toward lower valuations. After the price breaches the $0.500 a pullback is anticipated before dropping towards the $0.250 level.
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