Apecoin Technical Analysis · New All-Time High & Easy TargetsAs I told you just recently, the moving averages can be used in different ways. The main way is to gauge the market bearish or bullish potential and this is the classic way. The second one, less conventional, is to know how advanced is a trading pair within the current cycle.
Before everything was growing, we would confirm a pairs bullishness by looking at EMA55, EMA89, EMA144, MA200, etc. But now that we have a confirmed bullish bias, we can use these same moving averages to see how much room there is left for growth. For example, here APEUSDT is trading below EMA55 weekly. This is great news. This reveals to us that this pair is still early. As we know the entire market will move upwards based on the classic four years cycle—a bull market every four years, or the fact that a bull market happens the year after Bitcoin's halving—catching a pair before a major breakout can be life changing, profits can be huge.
But we still need some bullish signals though so let's look at those. Apecoin moved below its August 2024 market bottom. This is bearish. Once the action is happening back above this long-term support level the bullish bias is confirmed. Currently, APEUSDT is trading above its August 2024 low.
Another good and strong bullish signal is the classic rounded bottom pattern. On the 7-April low a rounded bottom pattern formed to produce a reversal. Notice how the trading volume is much lower on the last low compared to previous action. If the market was set to continue lower long-term, the lowest point would have high volume. Lower lows with decreasing volume signals that the bearish trend is losing force. This is already confirmed here because Apecoin produced a higher low in June and has been closing green several weeks.
Technical analysis coupled with marketwide action. Apecoin is set to grow strong long-term.
Thank you for reading. I hope you find this information to your liking. I hope you make tons of profits in this bull market cycle and fulfill all of your goals. You are appreciated.
Namaste.
