ApeCoin (APE) faces strong downward pressure, with several indicators signaling potential further declines. The 7-day MVRV suggests recent buyers are mostly at a loss, which hints at undervaluation but leaves room for additional downside.

The RSI remains low yet hasn’t entered oversold territory, indicating that selling pressure may continue before any rebound. Additionally, the EMA lines have formed a bearish death cross, suggesting APE’s price could either test deeper support levels or, if momentum shifts, aim for a recovery toward key resistance points.

APE MVRV Shows An Important Threshold

APE’s 7-day MVRV is currently at -8.79%, suggesting that most holders who bought within the past week are at a loss. A negative MVRV typically indicates that assets are undervalued, as holders are generally in the red, which sometimes leads to a price rebound as selling pressure decreases.

This level of negative MVRV implies that APE price could be approaching a bottom, as lower MVRV values often signal a potential buying opportunity.

Read more: ApeCoin (APE): Everything You Need To Know

The 7-day MVRV (Market Value to Realized Value) measures short-term profitability by comparing the current price to the average cost basis of assets purchased over the last seven days. Historically, APE has rebounded when its 7-day MVRV dropped below -9.2%, meaning further correction is possible before a recovery.

While the current MVRV is close to this threshold, it suggests that APE’s price could still dip a bit more before hitting a level that has previously triggered upward momentum.

ApeCoin RSI Is Not Oversold Yet

APE’s RSI is currently at 36.29, indicating a relatively low level of momentum and signaling that selling pressure has been dominant. RSI, or Go to Source to See Full Article
Author: Tiago Amaral