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- 1 The Aptos price has broken below the key moving averages on the daily time frame, showcasing bearishness.
- 2 Sellers were looking aggressive in the previous sessions, pulling the price down.
- 3 In the previous month, the price was down by 20.86%, showcasing the bears’ presence.
The Aptos crypto price has been on a downtrend for the past three weeks, as it faced resistance from the higher levels and formed lower lows. This indicates that the sellers have been in control and the APT price has lost its momentum. The crypto has also broken below the key moving averages, which indicates further weakness.
APT Crypto has formed a negative pattern and wiped out the profits it achieved in the previous month. The Aptos (USD: APT) crypto has returned to its former breakout point, which may serve as a support. The technical analysis implies that the crypto is undervalued and may recover from the bottom levels. However, the crypto has to display some evidence of power and reversal before validating a rebound rally.
The Aptos crypto (USD: APT) price is in a retracement phase but is trading close to the vital support of $8.15. If a reversal candle appears on the lower levels then buyers will attempt to bounce back. The APT crypto is currently trading at $8.67 with an intraday increase of 4.21%. If the buyers organize to rescue the current support, then the possibility of a bounce back will increase. Nevertheless, if the sell-off continues and the Aptos crypto plunges below lower levels, a further decline is likely.
Buyers attempted several times to breach the higher range and move upward. Nevertheless, due to the strong existence of bears, prices encountered rejection. It suggests that bears are still engaged at the higher levels.
Technical Analysis of Aptos Crypto Price in 1-D Timeframe
The Aptos crypto is trading below the downward-sloping 50-day and 200-day EMAs, showcasing a downtrend. However, the Aptos price has gone far away from the EMAs.
The MACD developed a negative crossover and the histogram is also red, indicating bearishness. The RSI suggests weakness and is near the oversold region. The current value of the RSI is 47.57 points. The 14 SMA is above the median line at 48.01 points, which indicates that the Aptos crypto is bearish.
Summary
The Aptos (USD: APT) crypto’s technical oscillators maintain a negative trend. The MACD, RSI, and EMA are underlining bearish signals and imply that the bearishness may persist in the APT crypto price. The price action of APT indicates that the investors and traders are negative on the 1-D time frame. The price action mirrors a bearish outlook at the moment.
Technical Levels
Support Levels: The Aptos crypto price may find support at $8.15 and $7.49, where it could bounce back or stabilize.
Resistance levels: The APT crypto price may face resistance at $10.00 and $10.98, where it could reverse or consolidate.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
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.
