apeusdtBINANCE:APEUSDT
We can see that APE has been in a downtrend since its last high in April 2022. After that, it started to decline and formed a descending channel. We are now approaching the previous low, and it seems that the bearish momentum is decreasing. Additionally, we can observe oversold conditions on the RSI indicator:
so there is one scenario, it will happen
scenario 1: if we close a weekly candle above the previous support level; the price will go up to the middle of the channel.
scenario 2 : if we close a daily candle below the First offering price, we will form a new low for APE.
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