APE's potential of bottoming out despite its latest price dip, citing"interest and speculation" surrounding the Otherside mint.and related ecosystem," the analyst noted, adding:has led its price to a support confluence defined by its 100-4H exponential moving average and the 0.5 Fib line of the Fibonacci retracement graph drawn from $10.63-swing low to nearly $24-swing high.
The level coincides with the 200-4H EMA and the top of a so-called"demand zone" — the launchpad for APE's previous 100% price rally.Conversely, a rebound from 100-4H EMA could have APE test the 0.382 Fib line near $18.85. Accompanied by convincingly increasing volumes, the price could test $20 and 24 as the next bullish targets.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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