Home
News
- 1 Aptos price breaks below 20 and 50-day EMA levels showcasing bearishness on the daily chart.
- 2 APT price is down by 16.03%, showcasing that bulls are dominating.
Aptos (APT) is a blockchain token that operates on layer 1. It uses the Move programming language and serves various purposes within the Aptos network. Move is a smart contract programming language that was first developed by Meta to power the Diem blockchain. Aptos relies heavily on Move, which prioritizes safety and flexibility, to make the project more efficient.
Aptos utilizes a parallel data model and execution engine to improve the efficiency of its processes. Additionally, the network’s overall efficiency is boosted by its use of a variant of the Byzantine fault tolerance consensus mechanism.
Technical Analysis of The Aptos Crypto Price
The Aptos (APT) cryptocurrency has been experiencing a downward trend in its price action, with lower lows observed on the charts over the past few weeks. This has been accompanied by a decrease in investor interest, resulting in below-average trading volume.
Additionally, user activity for APT has declined, further contributing to negative sentiment towards the cryptocurrency and a bearish outlook on the charts. The cryptocurrency was in a corrective phase, making buyers cautious. Additionally, it trades below significant moving averages and aims to reach the 50-day EMA to maintain its gains.
At the time of writing, the Aptos price was trading at $ 11.91 with an intraday gain of 0.59%, bouncing from the lower trendline near the lower support mark. Moreover, the intraday trading volume increased is $167.09 Million and the market cap is $4.75 Billion.
At the time of publishing, Aptos crypto (USD: Aptos) is trading above the 50 and 20-day EMAs (Exponential moving averages), which do not support the price trend. The current value of RSI is 35.55 points. The 14 SMA is below the median line at 45.27 points which indicates that the Aptos crypto is bearish.
APT Crypto Price vs Volume Analysis
The volume and price graph displayed that the trading volume has decreased in the last few days and the price also declined. In the last few days, the price was down significantly. However, the price is expected to grow in the long term
APT Crypto Social Dominance vs Social Volume
According to the social dominance and social volume graph, there has been a decline in both social dominance and social volume over the past few months, which has had a negative effect on the price. Additionally, the momentum of the APT price may be influenced by changes in social dominance and volume dominance.
Summary
The Aptos (APT) cryptocurrency has been experiencing a downward trend in its price action, with lower lows observed on the charts over the past few weeks. This has been accompanied by a decrease in investor interest, resulting in below-average trading volume. Technical indicators such as MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the Aptos crypto price. The cryptocurrency was in a corrective phase, making buyers cautious.
Technical Levels
Support Levels: $10.39
Resistance Levels: $13.52
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.
