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.
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) 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.
