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- Aptos price prediction favors the bulls and suggests rise in APT crypto for short term period
- APT price surged 20% on intraday and formed bullish engulfing candle from demand zone
- Aptos crypto bouncing back from the demand zone at $3.00
Aptos price prediction suggesting rise in the prices and the short term trend seems to be reversing in the favor of bulls. APT price shot up 20% on an intraday basis and formed a bullish engulfing candle showcase responsive buyers are getting active from the lower levels. However, the confirmation of the bullish trend reversal will come when Aptos crypto will be able to reclimb above the 50 day EMA.
Aptos price broke out of the 50 day EMA in January 2023 which triggered the positive sentiment. Later, Aptos crypto began the upside momentum by forming higher highs candles and APT price rallied 70% approx in the period of one month. Moreover, Aptos bulls had also succeed to push the price above the 200 day EMA which has created a hope for the positional trend reversal.
Aptos crypto took halt at $6.430 and failed to give the follow up momentum. Therefore, $6.000 and $6.430 will act as a strong supply zone for the bulls in the coming months. After consolidation for a few weeks in the narrow range between $5.00 and $6.00, APT price broke down the lower range which invites further selloff. Later, overall market sentiment also turned mild bearish which also impacted the APT crypto and it ended up losing 90% of previous gains. Aptos Price currently trading at $4.454 with an intraday loss of 1.31% and 24 hour volume to market cap ratio stood at 0.2951
Aptos price reversing from oversold zone?
Aptos price prediction will turn highly bullish only when APT bulls are able to trade above the $6.00 level. Till then the probability of range bound trading is high. However, presently the APT price is reversing upward from the demand zone and short term bullish momentum may continue for a few days. On the other hand, if APT crypto fails to give follow up momentum then $3.281 and $2.614 will act as important support zones. The technical indicators of Aptos crypto like MACD curve tilting upside indicates bears are losing the grip. The RSI at 43 reversing upward from the oversold level.
Conclusion
Aptos price prediction suggesting rise in the prices for the short term period and bullish trend reversal is also possible. APT price surged 20% indicating the responsive buyers are getting active from the demand zone. Moreover, the technical analysis shows that APT crypto is highly oversold and a short term relief rally has begun.
Technical levels
Resistance levels : $6.000 and $6.431
Support levels : $3.281 and $2.614
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
