Date: Mon, May 18, 2025 | 06:25 AM GMT
After mounting a solid comeback in recent weeks—where Ethereum (ETH) surged to a high of $2,700—the cryptocurrency market has now entered a phase of heightened volatility. ETH has dropped under $2,400, shedding over 4% in the last 24 hours alone. This pullback is rippling across major altcoins, weighing down recent bullish sentiment.
Yet despite the broader market dip, ApeCoin (APE) is showing resilience. The token has still managed to clock gains of over 5% in the last 24 hours, pushing its monthly rally above 50%. And technically, the chart suggests that APE’s rally might be far from over.
Retest of Inverse Head and Shoulders Breakout
On the daily chart, APE has successfully broken out of an Inverse Head and Shoulders pattern—a well-known bullish reversal formation.
After forming the classic three-part structure (left shoulder, head, and right shoulder), APE broke through the neckline resistance at $0.59, which was reinforced by the 100-day moving average. The breakout took the price to a local high of $0.72, before a natural pullback brought it back down to retest the neckline zone around $0.59.
This retest appears successful so far, with APE rebounding to the current price of $0.672, reinforcing this level as new support.
What’s Next for APE?
With the inverse head and shoulders breakout holding strong, APE could be setting the stage for another leg up. If bulls continue to defend the $0.59 support zone and buying volume increases, a move toward the technical target of $1.01 is possible—representing a 50% upside from current levels.
However, APE’s path forward may still depend on Ethereum’s performance. If ETH stabilizes and rebounds from the $2,400 level, it could reignite bullish momentum across altcoins, including APE.
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