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Summary
• Price action shows a bearish reversal from $0.249 high with a potential breakdown below key support at $0.235.
• Momentum shifts from overbought to oversold with RSI dipping below 30 and MACD turning negative.
• Volatility expanded during the drop, with Bollinger Bands widening and price nearing the lower band.
Price and Volume Summary
ApeCoin/Tether (APEUSDT) opened at $0.2412 (12:00 ET − 1), reached a high of $0.2490, fell to a low of $0.2235, and closed at $0.2268 by 12:00 ET today. Total volume was 6,898,041.90, with notional turnover of $1,568,852.
Structure & Formations
The pair formed a bearish reversal pattern off the $0.249 high, with a long upper shadow at $0.2431 and a bearish engulfing pattern confirming the breakdown. Key support levels at $0.243 and $0.235 were tested and broken, with current price near $0.2268.
Moving Averages and Fibonacci
On the 5-minute chart, the price dipped below both 20 and 50-period SMAs, confirming a short-term bearish bias. Fibonacci retracement levels on the recent $0.235–$0.249 swing show $0.238 (38.2%) as a potential near-term resistance.
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Momentum and Volatility
The RSI dropped to 29 at the 05:00 ET candle, signaling oversold conditions. MACD turned negative and is flattening, suggesting weakening momentum. Volatility expanded sharply during the selloff, pushing price near the Bollinger Band lower boundary.
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Volume and Turnover
Volume spiked significantly during the early morning hours, particularly at $0.2431 and $0.235. Turnover closely mirrored price action with no major divergence detected.
Outlook and Risk
Price may find near-term support around $0.2245 and could face resistance at $0.2310 if buyers emerge. A breakdown below $0.2243 could target $0.2200. Investors should remain cautious of potential bearish follow-through or a short-covering rally.
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