{"id":317353,"date":"2023-05-31T11:00:31","date_gmt":"2023-05-31T05:30:31","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=317353"},"modified":"2023-05-31T13:20:42","modified_gmt":"2023-05-31T07:50:42","slug":"apecoin-attempts-to-crack-another-support-will-it-be-successful","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/","title":{"rendered":"Tracing ApeCoin’s next crack at this support level"},"content":{"rendered":"

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n

ApeCoin [APE] continued its bearish swing, depreciating from $3.81 to trade at $3.21, as of press time. This extended the value lost by ApeCoin since mid-February to over 46%. Furthermore, the current price hovered just above the key support level of $3.20 with sellers looking to extend the bearish trend.<\/p>\n

With the general crypto market experiencing a mild bullish rally led by Bitcoin [BTC] surging into $28k, can APE rally again from $3.20, or will bears claim another support level?<\/p>\n

Sellers maintain bearish momentum with a retest of key support level<\/strong><\/h4>\n
\"\"<\/a>
Source: APE\/USDT on Trading View<\/figcaption><\/figure>\n

A recent price report<\/a> highlighted the possibility of a bullish reversal for ApeCoin from the $3.20 support level. However, the short-term bullish gains were quickly erased by the intense selling pressure that has seen bears crack the $4.56 and $3.81 support levels.<\/p>\n

On the 12-hour chart, the RSI was in the lower range with a reading of 37 – evidence of heightened selling pressure. The OBV also continued its downward slide \u2013 confirming the decline in demand for APE. The CMF stood at -0.17 to highlight increased capital outflows.<\/p>\n

Price consolidating at the $3.20 level over the past five days could signal a weakening of the support level. This could trigger bears to attempt another break of the level with the November 2022 low of $2.81 in sight. Conversely, buyers could use this retest to launch another rally toward the $3.81 resistance level.<\/p>\n

\n

Read Apecoin\u2019s [APE] Price Prediction<\/a> 2023-24<\/p>\n

\n

Declining daily addresses dampen buyers\u2019 confidence<\/strong><\/h4>\n
\"\"<\/a>
Source: Santiment<\/figcaption><\/figure>\n

The daily active addresses have been on a decline since 10 May. Data from Santiment<\/a> revealed that daily active addresses were below 1k, as of press time. This could hamper a bullish rally with sparse trading volume sabotaging buyers\u2019 efforts.<\/p>\n

The 30-day MVRV ratio remained negative which signaled that most traders will be realizing losses at the asset\u2019s current price.<\/p>\n

Furthermore, shorts held the upper hand in the long\/short ratio with a 51.8% advantage. This suggested speculators were actively on the hunt to maximize gains from APE\u2019s bearish trend.<\/p>\n

\"\"<\/a>
Source: Coinglass<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

APE hovered just above the key support level of $3.20 with sellers looking to continue the bearish trend.<\/p>\n","protected":false},"author":70,"featured_media":317366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,18,66,3,23,4,20],"tags":[],"class_list":["post-317353","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-hide-cryptopanic","category-new-news","category-news","category-no-home","category-social","category-trading-view"],"acf":[],"yoast_head":"\nTracing ApeCoin's next crack at this support level - AMBCrypto<\/title>\n<meta name=\"description\" content=\"APE continued its bearish swing, depreciating from $3.81 to $3.21, as of press time. This left ApeCoin with over 46% in losses since Feb.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tracing ApeCoin's next crack at this support level - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"APE hovered just above the key support level of $3.20 with sellers looking to continue the bearish trend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T05:30:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-31T07:50:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Saman Waris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/SamanWaris11\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Saman Waris\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/\"},\"author\":{\"name\":\"Saman Waris\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\"},\"headline\":\"Tracing ApeCoin’s next crack at this support level\",\"datePublished\":\"2023-05-31T05:30:31+00:00\",\"dateModified\":\"2023-05-31T07:50:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/\"},\"wordCount\":385,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AMBCrypto_Apecoin_bearish_1200x900.png\",\"articleSection\":[\"Altcoin\",\"Analysis\",\"HideCryptopanic\",\"News\",\"News 1\",\"No Homepage\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/\",\"name\":\"Tracing ApeCoin's next crack at this support level - AMBCrypto\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AMBCrypto_Apecoin_bearish_1200x900.png\",\"datePublished\":\"2023-05-31T05:30:31+00:00\",\"dateModified\":\"2023-05-31T07:50:42+00:00\",\"description\":\"APE continued its bearish swing, depreciating from $3.81 to $3.21, as of press time. This left ApeCoin with over 46% in losses since Feb.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/apecoin-attempts-to-crack-another-support-will-it-be-successful\\\/#primaryimage\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AMBCrypto_Apecoin_bearish_1200x900.png\",\"contentUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AMBCrypto_Apecoin_bearish_1200x900.png\",\"width\":1200,\"height\":900,\"caption\":\"ApeCoin attempts to crack another support, will it be successful\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#website\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/\",\"name\":\"AMBCrypto\",\"description\":\"Stay Ahead!\",\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"alternateName\":\"AMBCrypto News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/ambcrypto.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\",\"name\":\"AMBCrypto\",\"alternateName\":\"AMBCrypto News\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2026\\\/04\\\/amb-wide.jpg\",\"width\":600,\"height\":60,\"caption\":\"AMBCrypto\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/cryptoamb\",\"https:\\\/\\\/x.com\\\/CryptoAmb\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/13629485\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/ad73a5a061fcfc27548aa27112d8b9d8\",\"name\":\"Saman Waris\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"contentUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Saman-pic-100x100.jpg\",\"caption\":\"Saman Waris\"},\"description\":\"Saman Waris works as a Senior News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/saman-waris-a7116b199\\\/\",\"https:\\\/\\\/x.com\\\/https:\\\/\\\/twitter.com\\\/SamanWaris11\"],\"knowsAbout\":[\"Technical Analysis\",\"Crypto Market Trends\",\"Crypto Market Analysis\"],\"jobTitle\":\"Senior News Editor\",\"worksFor\":\"AMBCrypto\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/author\\\/saman-waris\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tracing ApeCoin's next crack at this support level - AMBCrypto","description":"APE continued its bearish swing, depreciating from $3.81 to $3.21, as of press time. This left ApeCoin with over 46% in losses since Feb.","robots":{"index":"index","follow":"follow","max-image-preview":"max-image-preview:large"},"canonical":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/","og_locale":"en_US","og_type":"article","og_title":"Tracing ApeCoin's next crack at this support level - AMBCrypto","og_description":"APE hovered just above the key support level of $3.20 with sellers looking to continue the bearish trend.","og_url":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/","og_site_name":"AMBCrypto","article_publisher":"https:\/\/www.facebook.com\/cryptoamb","article_published_time":"2023-05-31T05:30:31+00:00","article_modified_time":"2023-05-31T07:50:42+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png","type":"image\/png"}],"author":"Saman Waris","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/SamanWaris11","twitter_site":"@CryptoAmb","twitter_misc":{"Written by":"Saman Waris","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#article","isPartOf":{"@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/"},"author":{"name":"Saman Waris","@id":"https:\/\/ambcrypto.com\/#\/schema\/person\/ad73a5a061fcfc27548aa27112d8b9d8"},"headline":"Tracing ApeCoin’s next crack at this support level","datePublished":"2023-05-31T05:30:31+00:00","dateModified":"2023-05-31T07:50:42+00:00","mainEntityOfPage":{"@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/"},"wordCount":385,"commentCount":0,"publisher":{"@id":"https:\/\/ambcrypto.com\/#organization"},"image":{"@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#primaryimage"},"thumbnailUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png","articleSection":["Altcoin","Analysis","HideCryptopanic","News","News 1","No Homepage","Social","Trading View"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#respond"]}],"copyrightYear":"2023","copyrightHolder":{"@id":"https:\/\/ambcrypto.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/","url":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/","name":"Tracing ApeCoin's next crack at this support level - AMBCrypto","isPartOf":{"@id":"https:\/\/ambcrypto.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#primaryimage"},"image":{"@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#primaryimage"},"thumbnailUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png","datePublished":"2023-05-31T05:30:31+00:00","dateModified":"2023-05-31T07:50:42+00:00","description":"APE continued its bearish swing, depreciating from $3.81 to $3.21, as of press time. This left ApeCoin with over 46% in losses since Feb.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ambcrypto.com\/apecoin-attempts-to-crack-another-support-will-it-be-successful\/#primaryimage","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png","contentUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_Apecoin_bearish_1200x900.png","width":1200,"height":900,"caption":"ApeCoin attempts to crack another support, will it be successful"},{"@type":"WebSite","@id":"https:\/\/ambcrypto.com\/#website","url":"https:\/\/ambcrypto.com\/","name":"AMBCrypto","description":"Stay Ahead!","publisher":{"@id":"https:\/\/ambcrypto.com\/#organization"},"alternateName":"AMBCrypto News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ambcrypto.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ambcrypto.com\/#organization","name":"AMBCrypto","alternateName":"AMBCrypto News","url":"https:\/\/ambcrypto.com\/","logo":{"@type":"ImageObject","@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/04\/amb-wide.jpg","width":600,"height":60,"caption":"AMBCrypto"},"image":{"@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cryptoamb","https:\/\/x.com\/CryptoAmb","https:\/\/www.linkedin.com\/company\/13629485\/"]},{"@type":"Person","@id":"https:\/\/ambcrypto.com\/#\/schema\/person\/ad73a5a061fcfc27548aa27112d8b9d8","name":"Saman Waris","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","contentUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Saman-pic-100x100.jpg","caption":"Saman Waris"},"description":"Saman Waris works as a Senior News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins.","sameAs":["https:\/\/www.linkedin.com\/in\/saman-waris-a7116b199\/","https:\/\/x.com\/https:\/\/twitter.com\/SamanWaris11"],"knowsAbout":["Technical Analysis","Crypto Market Trends","Crypto Market Analysis"],"jobTitle":"Senior News Editor","worksFor":"AMBCrypto","url":"https:\/\/ambcrypto.com\/author\/saman-waris\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts\/317353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/comments?post=317353"}],"version-history":[{"count":0,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/posts\/317353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/media\/317366"}],"wp:attachment":[{"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/media?parent=317353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/categories?post=317353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ambcrypto.com\/wp-json\/wp\/v2\/tags?post=317353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}