Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Apecoin (APE) Approaches Key Resistance – Is a Bullish Breakout on Horizon?

Apecoin (APE) Approaches Key Resistance – Is a Bullish Breakout on Horizon?

CoinsProbeCoinsProbe2025/06/04 19:08
By:Nilesh Hembade

Date: Wed, June 04, 2025 | 06:50 AM GMT

The cryptocurrency market has mounted a solid comeback in recent weeks from its bearish Q1, as Ethereum (ETH) has delivered an impressive 44% jump since the start of Q2 — a move that’s uplifting sentiment across the altcoin space, including Apecoin (APE).

APE has surged more than 66% over the last 60 days, and looking at the current chart setup, it might not be done yet. Technical indicators are flashing signs of a potential major breakout just around the corner.

Apecoin (APE) Approaches Key Resistance – Is a Bullish Breakout on Horizon? image 0 Source: Coinmarketcap

Cup and Handle Pattern Takes Shape

The daily chart for APE reveals a classic Cup and Handle formation — one of the most recognized bullish reversal patterns in technical analysis. The cup formation began to take shape in late February, when APE was rejected around the $0.75 level. It then declined steadily to a low near $0.35 before rounding out the bottom and starting its recovery through April and May.

Apecoin (APE) Approaches Key Resistance – Is a Bullish Breakout on Horizon? image 1 Apecoin (APE) Daily Chart/Coinsprobe (Source: Tradingview)

In late May, the price pulled back slightly, dipping into the $0.60 region to form the handle. This small retracement was short-lived, and APE quickly began climbing again. As of today, APE is trading just below $0.74 and is pressing against the key neckline resistance between $0.71 and $0.75. This area has acted as a stubborn ceiling multiple times in recent months, making it a crucial level to watch closely.

What makes this pattern even more compelling is the declining sell volume during the handle phase — a signal often interpreted as waning bearish strength just before a bullish breakout.

What’s Next for APE?

A confirmed breakout above the $0.75 resistance level would complete the Cup and Handle formation and likely spark a surge in buying pressure. If this breakout is supported by strong volume and followed by a successful retest of the neckline, APE could rally toward the next resistance zone at $1.04.

Beyond that, the technical projection from the pattern points toward a price target near $1.12, representing a potential 50% move from where it currently stands.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!