The cryptocurrency ApeCoin (APE) is facing strong downward pressure, with indicators suggesting potential further declines. The 7-day MVRV indicates that recent buyers are mostly at a loss, implying undervaluation but allowing for more downside. The RSI remains low but hasn't reached oversold territory, indicating possible selling pressure before a rebound. The EMA lines have formed a bearish death cross, suggesting APE's price could test deeper support levels or aim for a recovery if momentum shifts. The negative 7-day MVRV suggests APE's price may be approaching a bottom and presents a potential buying opportunity. The current MVRV is close to a historical threshold that triggers upward momentum, implying further correction may occur. The RSI is relatively low, indicating selling pressure dominance, but hasn't reached oversold territory, leaving room for further downside. APE's EMA lines forming a bearish death cross suggests downward momentum may intensify. The continuation of the current downtrend could lead to a test of support at $0.68, while a reversal could attempt to break resistance at $1.14. The next move will depend on APE's ability to maintain support or attract new buyers.



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