Are investors losing interest in the ApeCoin price

APE price consolidates within the lower half of the $6 range.
ApeCoin price shows bulls are uninterested on the Volume Profile Indicator.
Invalidation of the bearish downtrend lies at $7.

ApeCoin price could be signaling a catalyst in the making as the bulls avoid engaging with the Ethereum-based NFT token.

ApeCoin price readies for $5

ApeCoin price is likely to experience a “sweep-the-lows” event in the coming days as the bulls are holding the price within the lower boundary of the $6 zone. The consolidation could be signaling smart money’s plan to grab liquidity under the May 12 lows at $5.11.

ApeCoin price confounds the idea of an upcoming sell-off on the Volume Profile Indicator. The bulls have yet to step in and defend the price on the indicator, which justifies the current downturn and sideways price action.

APE/USDT 12-Hour Chart

Invalidation for the bearish thesis lies at $7. If the bulls can breach this level, a rally towards $14 could occur, which would result in a 100% increase from the current ApeCoin price.

Share: Cryptos feed

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.