ApeCoin APE dropped to as low as $17 following Yuga Labs' Otherdeed announcement.
APE's potential of bottoming out despite its latest price dip, citing"interest and speculation" surrounding the Otherside mint.and related ecosystem," the analyst noted, adding:has led its price to a support confluence defined by its 100-4H exponential moving average and the 0.5 Fib line of the Fibonacci retracement graph drawn from $10.63-swing low to nearly $24-swing high.
The level coincides with the 200-4H EMA and the top of a so-called"demand zone" — the launchpad for APE's previous 100% price rally.Conversely, a rebound from 100-4H EMA could have APE test the 0.382 Fib line near $18.85. Accompanied by convincingly increasing volumes, the price could test $20 and 24 as the next bullish targets.
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