APE Technical Analysis: Apecoin Rises Within Symmetrical Triangle

APE price takes a bullish turnaround from the $3.15 mark resulting in a jump to the resistance trendline teasing a bullish breakout. Key technical points: The APE market price has decreased by 5.12% over the past 24 hours. The price action shows a symmetrical triangle pattern in the 4-hour chart. The 24-hour trading volume of Apecoin is $401 Million, indicating a hike of 1.98%. Past Performance of APE APE price action shows a long-coming downtrend under the insurance of a highly bearish trendline, accounting for a downfall of 68% to reach $3.15. However, the buyers quickly overtook the train control resulting in an ascending trendline and a price jump of 60% last week. The price action forms a symmetrical triangle pattern, and the reversal rally proposes the high bullish breakout possibility. Source- Tradingview APE Technical Analysis The APE prices showcase a lack of bullish support due to the weakening trend in the intraday trading volume. Hence, traders hoping to ride the breakout rally must wait for the price action confirmation. The DMI indicator shows a high possibility of a bullish crossover as the bearish spread diminishes. However, the falling trend in the ADX line must take a bullish turnaround to support the breakout rally. The RSI indicator shows a phenomenal increase in the underlying bullishness as the slope approaches the overbought boundary. Moreover, the 14-day SMA crosses above the halfway line to support the...