APE Forms Bearish Reversal Pattern While Testing Double Top Neckline
Published in
Dec 8, 2022
- Apecoin is trading in a falling trendline for the past 24 hours.
- APE could be setting up for a bullish reversal in the near term as it tests the neckline of a double-top pattern
- There is potential for a short-term rally to $4.50 if the double top holds.
Apecoin (APE) price analysis indicates the altcoin is currently trading in a falling trendline, indicating that the overall trend is bearish. More specifically, Apecoin has formed a double top pattern near the weekly highs of $0.41882 and appears to be testing the neckline of this pattern at current levels of around $3.97.
