Market Overview for ApeCoin/Tether (APEUSDT)

• APEUSDT opened at $0.4262 and closed at $0.4189, with a 24-hour high of $0.4329 and low of $0.4162
• Price experienced a bearish reversal pattern during the session, with a bearish gap and negative close
• RSI showed oversold conditions near the session low, while MACD remained bearish
• Bollinger Bands tightened during the early part of the session, then expanded downward
• High volume activity confirmed bearish price action, especially from 20:30–21:30 ET

ApeCoin/Tether (APEUSDT) opened at $0.4262 on October 28, 2025 at 12:00 ET and closed at $0.4189 on October 29, 2025 at 12:00 ET. The pair reached a 24-hour high of $0.4329 and a low of $0.4162, with a total volume of 4,385,717.75 and a notional turnover of approximately $1.87 million. The price action showed bearish pressure, especially during the late ET hours, with multiple candlestick patterns supporting a downtrend.

The 15-minute chart revealed key support levels forming near $0.4162, with a notable bearish engulfing pattern appearing at $0.4297 and closing at $0.4251. Resistance levels appear clustered around $0.428–0.430, which was previously tested multiple times without a breakthrough. A 20-period moving average crossed below the 50-period line, signaling bearish momentum. The daily chart shows the 50-period MA around $0.424 and the 200-period MA at $0.430, suggesting a medium-term bearish bias.

The momentum indicators reinforced the bearish sentiment. The MACD line remained negative throughout the session, crossing below the signal line and forming bearish divergence. The RSI dipped into oversold territory during the 21:00–22:00 ET window, reaching a low of 28.3, which could signal a possible short-term rebound. However, the RSI failed to show a strong rebound, indicating that selling pressure remained strong. Bollinger Bands showed a significant contraction early in the session but expanded as the price fell, confirming a period of volatility expansion to the downside.

Volume and turnover spiked during the key bearish candle at $0.4297–$0.4251, confirming the breakdown below that level. The notional turnover for that candle alone was approximately $135,000. The price action and volume correlation suggest a strong bearish conviction during that period. However, divergence appeared in the latter half of the session, as volume decreased while the price continued to decline, potentially indicating some exhaustion in the move.

Looking ahead, APEUSDT may test the $0.415 support level if the bearish trend continues, but a rebound near $0.418–0.420 could be possible if the RSI shows a bullish divergence. Traders should remain cautious about the risk of a deeper pullback, especially if volume fails to confirm further declines.

Backtest Hypothesis: A potential short strategy could be triggered by the bearish engulfing pattern observed around $0.4297–$0.4251. A stop-loss could be placed at $0.432 (above the engulfing high), with a target of $0.416 (the previous intraday low). Alternatively, a price-based exit could be used, such as a 3% stop-loss and a 5% take-profit, with the trade being closed if a bullish engulfing pattern emerges. A maximum holding period of 3 days would also provide a time-based exit if the trade does not reach its target or stop. This approach could be backtested using the observed price behavior and volume patterns to assess its viability.