Are investors losing interest in the ApeCoin price

  • APE price consolidates within the lower half of the $6 range.
  • ApeCoin price shows bulls are uninterested on the Volume Profile Indicator.
  • Invalidation of the bearish downtrend lies at $7.

ApeCoin price could be signaling a catalyst in the making as the bulls avoid engaging with the Ethereum-based NFT token.

ApeCoin price readies for $5

ApeCoin price is likely to experience a “sweep-the-lows” event in the coming days as the bulls are holding the price within the lower boundary of the $6 zone. The consolidation could be signaling smart money’s plan to grab liquidity under the May 12 lows at $5.11.

ApeCoin price confounds the idea of an upcoming sell-off on the Volume Profile Indicator. The bulls have yet to step in and defend the price on the indicator, which justifies the current downturn and sideways price action. 

tm/ape/6/19/22

APE/USDT 12-Hour Chart

Invalidation for the bearish thesis lies at $7. If the bulls can breach this level, a rally towards $14 could occur, which would result in a 100% increase from the current ApeCoin price. 

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