Structurally, the chart shows nothing. A 98% drop and price movement in a global downward channel only indicates that the bubble is still deflating. However, there is one consolation for APE holders - the sideways movement within the channel has been going on for over 100 days, which may indirectly indicate the formation of a bottom, BUT... Overbought by RSI, provided that the asset is not experiencing an upward local movement, does not look very good.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.