ApeCoin (APE) price stuck forming a new direction divergence after failing to move higher. The rejection has pushed it into a crucial area that the bulls and bears will resolve.
ApeCoin priceAfter retesting the $14.44 resistance barrier stretching from $14.23 to $15.95, which overlaps with the one-hour supply zone, it entered a stalemate. This merger proved too much for the bulls to break through, resulting in an 11% correction at the $12.97 support level where APE is currently trading.
$12.97 and $12.41 are two critical support hurdles in determining the directional trend of ApeCoin price. A bounce from either of these supports will trigger another rise to $14.44, and clearing this top will open the way for APE to hit its all-time high of $17.46.
Although this is a very optimistic forecast, APE price needs to stay above the $12.41 support, failing to stay above this support level could result in a sharp correction.
On the other hand, APE price If it breaks the $12.41 and $12.97 support levels, it will be an indication that investors are taking profits and the bulls are losing strength. In this case, APE will bounce back to the $11.31 support level.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.