• ApeCoin price has breached the $13 support zone. 
  • APE has broken past buyers' territory on the Relative Strength Index.
  • Invalidation for the bearish thesis will be a close above $14.50.

ApeCoin price is likely to continue falling towards $9. Multiple signals insinuate bullish weakness.

ApeCoin price could bring forth some pain

ApeCoin price has investors feeling less optimistic about starting the month of April as the price currently trades below $12. It was mentioned in last week's bearish thesis that an early sell signal would appear if bears managed to send APE price back into the $13 support zone. Towards the end of the trading week, bears did manage to push the price lower, and ultimately on March 31st, the ApeCoin price broke through the support barrier, paving the way to further losses.

ApeCoin price should concern investors as the NFT token lacks distinguishable support in prices below $12. The Relative Strength Index has breached the final 40 support level. Early buyers may want to take a jab at APE price when it falls into the oversold 30 area, but the ApeCoin price seems in limbo as the $12 price coincides with a 36 reading of the RSI. 

Ape 4/4/22

APE/USDT 4-Hour Chart

ApeCoin price is likely to keep falling. Still, the first touch at $10 may be too risky. Before attempting to catch the APE Price bloody knife, traders should consider waiting for distinguishable chart patterns in the $10, $9 and even $7 levels.

Invalidation for this bearish thesis will remain the same as last week. ApeCoin price must close above $14.50 to consider any more upside potential. If this were to happen, the bulls could aim for $15.50 and $16 confidently, resulting in a 30% increase from the current ApeCoin price.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Week Ahead: Crypto’s doom or a new all-time high in the making? Premium

Week Ahead: Crypto’s doom or a new all-time high in the making?

Bitcoin price shows no signs of a directional bias as it hovers around $66,000. The 2019 BTC price fractal hints at a potential correction should the US Fed cut interest rates.

More Bitcoin News

Binance faces backlash following announcement to delist FET

Binance faces backlash following announcement to delist FET

Binance released an announcement stating it will delist FET, stirring FUD among holders. FET experienced a heavy price drop following the announcement, with crypto community members criticizing Binance. FET is down 8% following the announcement.

More Binance News

Ethereum resumes downtrend as Canada sees another staked ETH ETF launch

Ethereum resumes downtrend as Canada sees another staked ETH ETF launch

Canada-based Purpose Investments announces conversion of its Ethereum Capital Corporation into staked Ethereum ETF. Conversion sees Canada embracing Ethereum staking ahead of US after SEC signals discomfort with concept.

More Ethereum News

Crypto ETFs experience heavy outflows after FOMC meeting

Crypto ETFs experience heavy outflows after FOMC meeting

CoinShares' weekly report reveals crypto ETFs experienced heavy outflows of over $600 million. US Bitcoin ETFs experienced the highest decline with $565 million in outflows. Bitcoin, Ethereum and Solana start week in decline.

More Cryptocurrencies News

Bitcoin: Has BTC found a local price bottom?

Bitcoin: Has BTC found a local price bottom?

Bitcoin (BTC) price looks set for a mild fall this week, weighed by slight outflows in the US spot ETFs and the US Fed keeping a hawkish interest-rate outlook despite easing inflation. Technical indicators suggest that BTC could face a further 5% correction in the short term before resuming the uptrend.

Read full analysis