Dead Cat Bounce Or Bottom?

dead cat bounce or bottom

Click Here to Learn How to Make Extra Income From Home

This Article was last updated 17 seconds ago by Ola

Also Checkout This Trending Articles on TmZ Blog Plastic Surgeries and Implants

Dead cat bounce or bottom? #Dead #cat #bounce #bottom Welcome to TmZ Blog, here is the new story we have for you today:

You Can Click Here To View Restricted Videos/Images in this Article

ApeCoin (APE) has undergone a sharp recovery after falling to its lowest level in two months. But its strong correlation with Bitcoin (BTC) and U.S. equities amid macro risks suggests more losses could be in store.

APE rebounds after 80% losses in two weeks

APE rebounded by nearly 45% to $7.30 on May 12. The upside retracement move came after APE dropped circa 81% to $5 on May 11, from its record high near $27.50, established on April 28.

The seesaw price action mirrored similar volatile moves elsewhere in the crypto market, led by the chaos around TerraUSD (UST) — an “algorithmic stablecoin” whose value plunged to $0.23 earlier this week, and the Federal Reserve’s hawkish response to rising inflation.

dead cat bounce or bottom

dead cat bounce or bottomAPE/USD versus USTUSD. Source: TradingViewMeanwhile, the correlation coefficient between ApeCoin and Bitcoin is now around 0.90, suggesting that it’s trading nearly in tandem with BTC, which is testing multi-year lows.

dead cat bounce or bottom 1

dead cat bounce or bottom 1ApeCoin and Bitcoin daily correlation. Source: TradingView

Dead cat bounce?

ApeCoin’s rebound occurred near what appears to be a strong technical support level.

Related: ApeCoin is down 70%+ since the Otherside launch — Can Yuga Labs turn the ship around?

Click Here To Turn Your Smart Phone Into Money Making Machine

Notably, APE is holding above $5.82, which coincides with the 0.786 Fib line of the Fibonacci retracement graph sketched from the $0.97-swing low to the $23.65-swing high. Meanwhile, the token’s daily relative strength index’s reading is just above its “oversold” threshold level of 30 — a buy signal. 

dead cat bounce or bottom 2

dead cat bounce or bottom 2APE/USD daily price chart. Source: TradingViewTherefore, a rebound move from the $5.82-support could have APE test $9.63 (the 0.618 Fib line) as its near-term upside target.


Conversely, an extended breakdown below the support would risk crashing the APE/USD pair into unchartered price territory, confirming that its retracement move was a mere dead cat bounce.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

Click Here To Continue Reading from Source



As per the recent report girl named Karungi monic has no…

Click Here to Learn How to Make Extra Income From Home This Article was last…

Beginning Monday, copies of discussions, photos, and recordings of specific females…

Click Here to Learn How to Make Extra Income From Home This Article was last…

Yet another page and yet another person is getting viral on…

Click Here to Learn How to Make Extra Income From Home This Article was last…