💎#APE has been under pressure since hitting a local top near the $2.00 region. Strong selling pressure has taken over, driving the price lower and putting the ascending support line, which has held since October, into question. This trendline is now critical for bulls, as a breakdown below could trigger a significant shift in market sentiment.
💎The immediate support level at $1.09 is acting as a psychological and technical barrier. However, if this level fails to hold, the price could drop rapidly toward the strong support zone around $0.68. This area aligns with historical demand levels and could attract buyers looking for value, but failure to find support here would expose #APEUSD to even lower levels, with $0.477 emerging as the next likely target.
💎On the bullish side, reclaiming the $1.40 resistance zone is essential to invalidate the bearish outlook. A daily close above this level would signal that bulls are regaining strength, potentially paving the way for a rally toward $1.80 and beyond. Until then, however, the bias remains bearish and bears seem in control.
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👉Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! 🚀💸