The broader cryptocurrency market is showing an encouraging tone today, with Bitcoin (BTC) and Ethereum (ETH) both trading over 1.50% higher, setting the stage for potential upside in several altcoins — including the DEX token Apex Protocol (APEX).
APEX is back in green with 8% gains, and more importantly, its latest technical setup on the lower timeframe suggests that it may be gearing up for a larger move soon.
Cup and Handle Pattern Formation
A closer look at the 4-hour chart shows APEX forming a textbook Cup and Handle pattern — a bullish technical structure that often signals the continuation of an uptrend.
After being rejected near the neckline at $1.4125, the token pulled back to a low around $1.07, where the 50-hour moving average (MA) provided a strong base of support. Since then, APEX has rebounded steadily and is now trading near $1.2390, shaping the “handle” portion of the pattern — which typically precedes a breakout attempt.
Notably, APEX is trading just below its 100-hour MA at $1.2581, a resistance level that buyers need to reclaim to strengthen the bullish outlook.
Future Price Prospects for APEX
If the Cup and Handle formation plays out as expected, a decisive breakout above the $1.4125 neckline could trigger a strong bullish rally, pushing APEX toward its next major target near $1.9545 — representing a potential 57% gain from current levels.
However, if the price fails to hold above the 50-hour MA and dips below $1.07, the bullish setup could weaken, signaling that further consolidation may be needed before the next significant move unfolds.