ApeCoin risks another massive selloff as APE drops 70% in two weeks — Here’s why By Cointelegraph


ApeCoin risks another massive selloff as APE drops 70% in two weeks — Here’s why

A euphoric price rally by ApeCoin (APE) seen in mid-March appears to be exhausted already thanks to the coin’s 70% drop in valuation in the past two weeks — and it may fall further in April.

At the core of this bearish outlook is a rising wedge, a technical pattern that forms as the price consolidates upward inside a range defined by two converging ascending trendlines.

daily price chart featuring a ‘rising wedge’ setup. Source: TradingView
APE supply chart. Source: ChainPulse, Jarvis Labs