APEUSDTHello again,
*Mars Signals Team wishes you high profits*
This is a 4-hour-time frame analysis for APEUSDT
Here we have R2 is a long-term resistance area in this chart with its presentation of the disability of the price to rise at several points. R1 used to be a support area. S1 used to be a resistance area. And S2 is our support area at the bottom that contains the well support of price at some different points. Clearly, the price experienced various rejections at R2 and each time it faced a decline lo lower amounts. By the last rejection at this resistance area, it experienced a severe decline down to S2 and after receiving several supports, ultimately it was able to rise up to R1. Then when it was rejected at this point by a negative Marubozu Candle and then through a hammer candle, it faced another rise to R1 area this time. Here it moved again in a falling trend and was supported at S1 area. Thus, it is fluctuating over the mentioned area in a neutral channel now and we expect it to provide us two scenarios. One of them is breaking R1 upward and by providing us some fixation and fluctuation over there, more rise happens to it in order to touch higher amounts including R2. But by the time the price falls below R1 and loses the support at its current point, definitely more decline will happen then. According to the chart, either of these two options will happen in the coming future. Please consider the market situation in lower time frames and then decide what to do exactly. We suggest you to save your profits in the resistance areas due to the fact that in the decline of the price, you will not have so much loss. Keep moving with our updates and analyses to have multiple pieces of information and ideas.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you luck