Why the ApeCoin price is selling off in free-fall fashion
|- ApeCoin price has breached the May 12 lows.
- APE price is following the trajectory mentioned in previous outlooks.
- Invalidation of the current trend is a move back up above $6.
ApeCoin price has breached the May 12 lows, which could be the catalyst before a decline to $2.
ApeCoin price is following the technicals
ApeCoin price is showing solid bearish control going into the weekend. The bears have successfully breached the liquidity level at $5.22 established on May 12. If the technicals are correct, a mudslide into $2 could occur.
ApeCoin price has yet to display any bullish signals to dispute the bearish thesis. Bears looking to enter the market can place a safety stop above $6.00 to participate in the subsequent decline. The current sell-off was induced by a subtle rejection of the Relative Strength Index on the daily chart.
APE/USDT 1-Day Chart
If the $6 level is breached, the bulls could induce a rally towards $10, resulting in a 95% increase from the current ApeCoin price.
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