APE Struggles to Find Support Amid Intensifying Bearish Momentum

The 1-hour chart for $APE indicates a persistent bearish trend, with recent closing prices reflecting a downward trajectory. Key technical indicators support this outlook, including the downward-sloping 9 and 20-period exponential moving averages (EMAs), which confirm the prevailing selling momentum.

The MACD shows strong bearish momentum, with the MACD line consistently below the signal line, indicating intensifying selling activity. The Relative Strength Index (RSI) is trending lower, approaching oversold territory, suggesting potential short-term buying opportunities, though it has not yet reached the oversold threshold.

Key resistance levels to monitor include $1.532, $1.588, and $1.617, while immediate support is at $1.404. A break below this support could lead to increased selling pressure. Traders should remain cautious, focusing on potential buy entries at support levels or short opportunities if bearish momentum continues. #APE #ApeCoin #ApeChain