![ApeCoin [APE] could see some gains toward $5, only if…](https://i.headtopics.com/images/2022/10/19/cryptoamb/apecoin-ape-could-see-some-gains-toward-5-only-if-apecoin-ape-could-see-some-gains-toward-5-only-if-1582590617267347456.webp)
ApeCoin [APE] could see some gains toward $5, only if...
The aforementioned weakness was exhibited by the break in market structure to see a bearish bias form in late September . This shift on the 12-hour chart heralded new losses for ApeCoin. It was accompanied by the RSI retesting neutral 50 as resistance. The CMF also slipped below -0.05 a week ago to show significant capital flow out of the market. Meanwhile, the OBV showed a lack of buying volume.
Of particular importance was the confluence of this gap on the charts with the psychologically important level of resistance at $5. For short-sellers, a retest of the $4.9-$5 zone could offer a selling opportunity with a tight but well-defined risk, and juicy reward to the south.
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