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APE bulls hold off the bears for now, and that means…

Press Releases Crypto News AMB-Crypto APE bulls hold off the bears for now, and that means…

APE saw heightened volatility in recent days.
This saw bearish sentiment in the Futures market, but the OBV has trended higher through it.

ApeCoin [APE] fell by 12.2% on the 18th of January. Despite the losses, the market structure was unbroken. The fall to $1.31 was swiftly bought up but is that a reliable sign of a bullish rebound?

This drop in prices came after a token unlock on the 17th of January. Bitcoin [BTC] also fell from $42.9k to $40.6k, giving APE sellers more reason to sell their holdings.

The market structure hinted at APE’s next direction

On the 17th of January, APE closed a daily trading session above $1.53, flipping the market structure bullishly. The large drop in prices that came a day after was not enough to break the bullish structure.

The previous higher low was highlighted by the red line and stood at $1.37. APE fell to $1.31, but did not close the day’s session below $1.37. The past three days of trading saw the prices rise slightly to $1.4 at press time.

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Author: Akashnath S

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