APE forms bullish reversal patterns on daily and weekly charts | Credit: Derek Fenech
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Key Takeaways
Despite Solana integration, ApeCoin trades near historic lows, far from its 2022 peak.
APE tests the upper trendline of a symmetrical triangle, hinting at a breakout.
APE broke out of a falling wedge, with early signs of momentum shifting bullish
ApeCoin (APE), the governance token of the APE DAO, has confirmed its integration with Solana.
However, despite this news, APE’s price has shown little positive reaction.
Currently, APE is trading 98% below its all-time high set in March 2022.
The key question now: can ApeCoin bounce back from these lows, or is more downside ahead?
ApeCoin Sees Turning Point
On the weekly chart, ApeCoin’s price remains locked inside a symmetrical triangle, a consolidation pattern that precedes a breakout.
Right now, APE is testing the upper trendline, hinting at a possible bullish move if buying pressure holds.
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Adding to the optimism, APE has also flashed a bullish divergence. This setup emerged as the Chaikin Money Flow (CMF) climbed above the zero line, showing a shift toward capital inflows.
At press time, the CMF reading stands at 0.20, a sign that buying activity is starting to outweigh selling pressure.
Such a reading suggests that accumulation is underway, and when paired with a triangle breakout, it could fuel a strong upside move.
If momentum continues, APE’s price may finally escape its prolonged consolidation phase and attempt a recovery from its multi-month lows.
Another catalyst behind ApeCoin’s setup is its integration with Solana. On Tuesday, Sept. 9, ApeCoin announced that the process had been completed, marking a major step in expanding its multi-chain presence.
The project also revealed that it is actively working on integrations with additional blockchains, signaling its push toward broader adoption and cross-chain utility.
“ApeCoin has been working closely with our partners LayerZero to continue expanding the Ape ecosystem. From Ethereum to ApeChain, and now live on Solana,” The project stated.
APE Price Prediction: Risk to Hope
On the daily chart, ApeCoin’s price has started to form a bullish structure. The token has printed consecutive green candles, showing steady buying pressure.
As a result, APE has broken above the upper trendline of a falling wedge — a reversal pattern that signals the end of a downtrend and the potential start of a sustained rally.
Besides that, the Awesome Oscillator (AO) has flashed green histogram bars. At press time, the AO reading was negative.
However, the green bars indicate that momentum may switch from bearish to bullish. Should this remain, APE’s price might breach the resistance at $0.66 near the 0.236 Fibonacci level.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
