CandleFocus

These 2 Metrics Show ApeCoin (APE) Price Correction May Not Be Over Yet

Author: Content Editor
The price of ApeCoin (APE) has fallen by around 15% in the past 24 hours, following a 100% increase in value between October 19 and October 21. The MVRV (Market Value to Realized Value) metric suggests that many APE token holders are currently experiencing unrealized losses, indicating weak market sentiment. The RSI (Relative Strength Index) also indicates a shift from overbought conditions, suggesting that bullish momentum may have diminished. While historical data suggests that APE tends to make strong rebounds when the MVRV reaches -13%, it has not yet reached that threshold, indicating that the current correction may not be over, and further downside movement is possible. The EMA lines on the APE chart indicate a change in momentum, with bullish momentum potentially fading. Key levels to watch include resistance at $1.34, $1.47, and $1.82, and support at $1.12, $0.94, and $0.78.

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