ApeCoin (APEUSD) Set for Upward Recovery as Market is Undervalued
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APEUSD Analysis – Price Sets For An Upward Recovery As The Market Becomes Undervalued
APEUSD sets for an upward recovery as the market becomes undervalued. The market’s trend has been bearish for a long time. Typically, a major correction to the upside is bound to occur within a long downturn period. The market is in a correction phase as the Moving Average Convergence Divergence (MACD) expands upward.
APEUSD Significant Zones
Demand Zones: $1.810, $1.560
Supply Zones: $3.370, $6.420
The price rose after the MACD divergence’s indication. Concurrently with the creation of a higher low by the MACD, APEUSD created a lower low. This implies that the market is about to flip bullish, either for a short or long time. Consequently, the MA Cross is about signaling a long signal as the Moving Averages contract. It’s most likely that the emerging uptrend will last for a while. The uptrend will probably continue until the bearish order block around the $3.370 resistance is reached.
In February 2023, after the emergence of the downturn, a bearish order block formed. The return to the order block instigated the rapid fall of price from the $5.500 price zone into a discount. A second return into another bearish order block also caused a further crash, which brought the price below the $2.370 level. As the price plunged, a swing high formed at the $2.530 price level. Owing to the buying pressure from the $1.560 support, the $2.530 will likely get invalidated as the price rallies upward.
Market Expectation
The four-hour trendline upholding the continuation of the upward trend has been broken. APEUSD is expected to head into the four-hour bullish order block at a discount before resuming the uptrend.
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