💀 Technical Analysis: ApeCoin (APE)
Market Capitalization: $367 million.
After a recent volatility spike, APE has calmed down and moved into sideways movement while maintaining an upward trend.
🟡 An excellent opportunity to work on level breakouts!
How to trade❔
💬 Buy Scenario: On an upward break of the resistance level, open a long position. Place stop-loss behind the nearest extreme.
💬 Profit target – before the next resistance level above. Important: manage the trade by moving stop-loss at a distance equal to two stops.
💬 Sell Scenario: On a downward break of the support level, open a short position. Actions are similar to buying: stop behind the extreme, profit before the next level.
The profit/risk ratio for both trades looks very attractive.
Conclusion:
APE gives clear entry signals in either direction. The main thing is to wait for the breakout and not rush into entry.
📈 Open trade with $APE
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