ApeCoin Price Forms Bearish Flag Threatening More Losses
ApeCoin (APE) price experienced a slight uptrend on August 3 but was rejected at the $1.90 level, leading to a downward breakout to the $1.8 demand zone. This has formed a bearish flag pattern, indicating a potential 20% decline to $1.48.
Key Points:
- ApeCoin price rejected at $1.90 and formed a bearish flag pattern.
- Current price at $1.853, with support at $1.83. A break below could lead to further losses.
- Possible line of defense at $1.80, with a potential target of $1.732.
- Technical indicators and on-chain data support bearish sentiment.
- ApeCoin bulls may find success if price breaks above $1.913.
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