ApeCoin [APE] traders willing to go short can make most of this pattern - Aliens: AI Crypto News & Markets Updates
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ApeCoin [APE] traders willing to go short can make most of this pattern

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AMB Crypto

Fri, Jul 01, 2022

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Aliens TLDR

Since attaining its all-time high (ATH) on 28 April 2022, the ApeCoin [APE] selling spree has kept the alt below its daily 20 EMA (red) and the 50 EMA (cyan).

While a bearish flag setup flares up on the chart, sellers could extend the bearish phase in the coming sessions.

After recording an 88% decline from its April highs, APE was down to find an all-time low of $3.0661 on 15 June.

For over two weeks now, APE saw a bearish flag and pole in the daily timeframe.

A sustained close below the flag could aid the bearish efforts in retesting the $3.3-support.

Looking at the bearish flag and pole setup alongside the price action falling below the 20/50 EMA, APE could see a patterned breakdown.

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