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ThecoinrepublicCryptoAptos Price Prediction: Will APT Be Able...
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Aptos Price Prediction: Will APT Be Able to Recover?

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  • Aptos is currently trading at $11.97 (press time) with a decrease of 4.96% during the intraday trading session.
  • The 24-hour low for APT was $11.89 and the 24-hour high was $12.74.
  • The current Aptos price is above the 20 and 100-Day EMAs.

The APT/BTC pair was trading at 0.000436 BTC with a dip of 3.04% over the intraday trading session.

Aptos price prediction suggests that it is in a downtrend after getting rejected from the downward sloping trendline. After the start of 2023, APT price was caught in an uptrend, breaking its primary support and resistance on its way up. However, the formation of the evening star pattern after the uptrend might be the cause of the current downtrend, as seen in the daily time frame chart.

After APT price tested its primary support of $10.19, it tried to rise up again with the support of active buyers in the market. But after reaching the downward sloping trendline, sellers again became active in the market and pushed the APT price downward. If APT does not gain the required active-buyers’ support in the market, it might fall below the primary support. This will put the token in a critical situation.

The trading volume of the coin decreased by 41.55% in the last 24 hours, meaning that sort-selling in the market has increased. Sellers are trying their best and this can be seen in the relationship between the volume and the price of APT, which shows strength in the current bearish phase.

Aptos Price Technical Analysis

The Relative Strength Index (RSI) is decreasing in the oversold zone and has shown a negative crossover, wherein the sellers are in the majority and pushing APT downwards. This shows the strength of the current bearish trend. The current value of RSI is 46.76, which is above the average RSI value of 51.37. 

The MACD and the signal line are intersecting but were stranded over the daily chart, which does not provide any evidence supporting the RSI claims.

Conclusion

Aptos price prediction suggests that it is in a downtrend after being rejected from the downward slope trendline. The decline in trading volume shows negative market sentiment for the APT token.

Furthermore, the RSI is decreasing in the oversold zone and has shown a negative crossover, which indicates strength in the current bearish phase. Traders are advised to proceed with caution when making trades in the market.

Technical Levels

Resistance level- $14.24 and $17.18

Support level- $10.27 and $3.53

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Ritika Sharma
Ritika Sharma
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
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