APE coin price action showcases the reversal rally, outgrows the falling channel, and plans to surpass $12 with a post-retest reversal.

Key technical points:
<ul>
 	<li style="font-weight: 400">The Apecoin prices grow by 10% to end the falling channel</li>
 	<li style="font-weight: 400">The APE price retests the 50-period EMA in the 4-hour chart.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Apecoin is $658.38 Million, marking a 250% rise.</li>
</ul>
<h2>Past Performance of APE</h2>
APE prices deflated by 30% in under two weeks by creating a falling channel pattern starting from $15.50 to $10.75. The downtrend cracked below multiple Fibonacci support levels before finding support at a psychological barrier resulting in an upside rally of 15%. However, the prices failed to sustain above the 100-period EMA and reversed from the $12.35 mark to retest the 61.80% Fibonacci level close to $11.50.

<img src="https://s3.tradingview.com/snapshots/u/uBnRO0tm.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/uBnRO0tm/">Tradingview</a>
<h2>APE Technical Analysis </h2>
APE token price faced a profit-booking led supply at $12.35 resulting in a retracement to the 61.80% Fibonacci level. However, the lower price rejection seen with a boom in trading volume increases the chances of a post-retest reversal. 

The lack of historical data puts the EMAs of Apecoin in a very vague position with the doubt that price action may or may not respect the levels. Nonetheless, the bearish aligned 50 and 100-period EMAs keep a sideways trend with the prior EMA attempting to push the price higher. 

RSI Indicator: The fresh surge in underlying bullishness cools down sharply as the RSI slope retests the 50% line. However, the RSI values sustaining above 50% will represent a buying opportunity as no divergence is present. 

MACD Indicator: The MACD and signal lines keep avoiding bearish encounters to continue the approach towards the zero line. Moreover, the recent increase in the bullish spread strengthens the bullish side.

In a nutshell, the APE technical analysis highlights the possibility of a post-retest rally if the buying pressure sustains. 
<h2>Upcoming Trend </h2>
APE coin price action experienced a surge in selling pressure above the 100-period EMA resulting in the 50-period EMA retest. However, the support confluence of the 61.80% Fibonacci level and the 50-period EMA projects a high likelihood of uptrend reversal surpassing $12 to reach the 38.20% Fib level at $14.

Support Levels: $11.5 and $11

Resistance Levels: $12 and $14

APE Technical Analysis: Is $11.50 Retest A Bullish Launchpad?

APE coin price action showcases the reversal rally, outgrows the falling channel, and plans to surpass $12 with a post-retest reversal.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

APE Technical Analysis: Is $11.50 Retest A Bullish Launchpad?

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