Summary
• Price drifted lower in choppy 5-minute action, with bearish momentum apparent on declining RSI and MACD.
• Volume spiked during key downside break below 0.2058, supporting the bearish bias with strong turnover.
• A potential 61.8% Fibonacci retracement level at ~0.2044 acted as a temporary floor before further losses.
• Bollinger Bands showed moderate expansion, with prices hovering near the lower band during the latter half of the session.
• A long lower shadow at 0.2044 hinted at rejection at that level, though bears regained control by session close.
ApeCoin/Tether (APEUSDT) opened at 0.2083 on January 12 at 12:00 ET, reached a high of 0.2086, and closed at 0.2034 by 12:00 ET January 13. Total volume over 24 hours was 711,366.24 with a notional turnover of 144,566.63 USDT.
Structure & Formations
Price action showed a bearish trend on the 5-minute chart, with a critical breakdown below 0.2058 triggering further selling. A 61.8% Fibonacci level at ~0.2044 held briefly before sellers retook control. The 0.2044 level showed some rejection in the form of a long lower shadow, but it failed to reverse the broader downward move.
Moving Averages
On the 5-minute chart, price spent much of the session below the 20 and 50-period moving averages, reinforcing the bearish bias. The daily chart shows
well below its 50, 100, and 200-period MAs, consistent with a long-term downtrend.
MACD & RSI
RSI dropped from overbought territory near 65 to a neutral range (~40) by session close, suggesting exhaustion in the bullish move. MACD turned negative with a bearish crossover, reinforcing the weakening momentum in the pair.
Bollinger Bands
Volatility increased slightly, with Bollinger Bands showing moderate expansion. Prices spent much of the session near or below the lower band, particularly during the 21:00–23:00 ET timeframe, indicating bearish control in the short term.
Volume & Turnover
Volume surged during the key breakdown at 0.2058, with the 19:45–20:00 ET timeframe showing the highest volume (57,860.78). This confirmed the bearish move, while the notional turnover of 144,566.63 USDT showed no divergence with the price action.
Fibonacci Retracements
The 61.8% retracement level at ~0.2044 briefly supported price, but failed to hold against renewed selling pressure. A retest of this level could offer further insight on whether bears are in control or if buyers are emerging.
Market participants may look for a retest of 0.2044 and a potential bounce in the next 24 hours, though a sustained break below this level could open the door to further downside. Investors should remain cautious as volatility and momentum remain skewed to the bearish side.
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