Technical analysis by Traders_Notes about Symbol APE on 6/2/2025

The asset continues to trade within a broad descending channel. Currently, the price is approaching the upper boundary, sitting near the channel’s median line — a key level that often acts as support or resistance.Locally, a potential bullish flag pattern is forming, pointing toward the resistance zone. A breakout above this channel boundary could trigger a trend reversal to the upside.Long targets are marked on the chart. Keep in mind the alternative scenario: a rejection at resistance and a possible return to the channel’s lower boundary remain valid.Always practice proper risk managementThe asset is traded on multiple liquid exchanges, including Coinbase, which adds optimism to its potential outlook.