Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n ApeCoin [APE]<\/a> has trended southward on the charts since May 2022. There were brief rallies that lasted weeks. However, the long-term investors have never been convincingly resurgent in the market in a long time. Another such bounce could be imminent. This downtrend would likely be spurred on by the token unlock<\/a> that is scheduled for later in October.<\/p>\n Read ApeCoin\u2019s [APE] Price Prediction<\/a> 2023-24<\/p>\n A recent ApeCoin technical analysis<\/a> by AMBCrypto noted that the $1.09 was a level to watch out for. It had been resistance, but the past 24 hours saw prices climb back above it. Can the bulls keep this move going, and how high can they reach?<\/p>\n Source: APE\/USDT on TradingView<\/p>\n<\/div>\n On the 12-hour chart, the move above $1.11 on Monday (16 October) showed bullish intent. This was in contrast to the strong downtrend on the daily and weekly charts. Hence we must consider the possibility that APE could climb higher in search of liquidity before another slump rather than beginning a true rally.<\/p>\n The four-hour chart above showed a bullish structure from the price action. The Relative Strength Index (RSI) was above neutral 50 and indicated upward momentum was strong. Additionally, the On-Balance Volume (OBV) has also crept higher over the past ten days.<\/p>\n To the south, the $1.06 region has been important support since mid-September, with last week\u2019s slump to $1.01 notwithstanding.<\/p>\n Source: Hyblock<\/a><\/p>\n<\/div>\n The Cumulative Liquidation Levels Delta showed longs were set to suffer more upon a contrary price movement. Yet it wasn\u2019t large enough to warrant expectations of immediate volatility. Having said that, there was close to $2 million worth of long liquidations just below $1.08.<\/p>\n Therefore traders can look to go long in the $1.05-$1.08 region targeting $1.13 and $1.17. This idea would be invalidated should APE drop below $1.035-$1.04.<\/p>\n\n
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\nThe H4 momentum was bullish but the higher timeframe trend must not be forgotten<\/h4>\n
![\"ApeCoin\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-3-APE-price.png\")
<\/a><\/p>\nThe liquidation levels presented an interesting scenario for APE<\/h4>\n
![\"ApeCoin\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-3-hyblock-APE.png\")
<\/a><\/p>\n![\"ApeCoin\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-3-APE-coinalyze-1.png\")
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