BINANCE:APEUSDT We can see that APE has been in a downtrend since its last high in April 2022. After that, it started to decline and formed a descending channel. We are now approaching the previous low, and it seems that the bearish momentum is decreasing. Additionally, we can observe oversold conditions on the RSI indicator: so there is one scenario, it will happen scenario 1: if we close a weekly candle above the previous support level; the price will go up to the middle of the channel. scenario 2 : if we close a daily candle below the First offering price, we will form a new low for APE.
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if we break the resistance of the channel, We're going to $4.6, then $6.9, then $11
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We will retest the $1.07 support and I think the price will be rejected from it because it is a strong buy zone