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Aptos price analysis: Downward spiral plummets APT to $8.40

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TL;DR Breakdown

  • The Aptos price analysis is bearish.
  • Resistance for APT/USD is present at $8.71.
  • Support for APT is present at $7.60.

The Aptos price analysis takes a bearish stance today as APT continues its descent, reaching a new low of $8.40. The price trend line for the APT/USD pair turned downward on May 18, 2023, and has maintained a steady decline ever since, mirroring the overall decrease in cryptocurrency value.  The prevailing trend remains bearish, with price levels sinking persistently. Looking ahead, the next support level for APT is anticipated at $8.31, and there is a possibility that the coin may find some stability at this level. However, if selling pressure intensifies, the next significant support can be found at $7.60, presenting a more robust level of support for APT.

APT/USD 1-day price chart: Bears at supremacy

As per the Aptos price analysis based on the 1-day chart, the coin is currently trading at $8.40 following a recent decrease. The past 24 hours have seen a decline of 1.09 percent in price due to the prevailing bearish momentum. However, over the past 7 days, APT has demonstrated a positive trend, showing an increase of 2.19 percent. It’s worth noting that the RSI has significantly dropped to 36, indicating the possibility of impending price changes and a potential for another downturn. Additionally, the trade volume has decreased by 36 percent within the last 24 hours.

apt1dgfrAptos price analysis: Downward spiral plummets APT to .40
APT/USD 24-hour price chart. Source: Tradingview

APT encounters resistance at $10.15, represented by the upper Bollinger band, with $7.60 serving as the key support level for APT/USD. Although volatility is gradually decreasing, it remains relatively elevated. The mean average of the volatility indicator stands at $8.48. Notably, a bearish indication emerges as the price trades below the moving average (MA).

The price’s continued decline is suggested by the relative strength index (RSI) plummeting to 36, coupled with the downward movement curve, which hints at notable selling activity in the market.

Aptos price analysis: Recent developments and further technical indications

The most recent 4-hour Aptos price analysis confirms our observations even more, as a correction occurred during the first four hours, indicating a downward price trend. The downfall was less, but the price was reduced to $8.40. At the moment, bulls are trying to provide support to the price function but have not succeeded so far.

apt4hgprAptos price analysis: Downward spiral plummets APT to .40
APT/USD 4-hour price chart. Source: Tradingview

On the 4-hour chart, volatility is gradually increasing, as evidenced by the expanding Bollinger bands, while the price remains below the mean average line of the volatility indicator, marked at $8.53, emphasizing the bearish sentiment. Moreover, the RSI exhibits a flat curve, indicating a lack of momentum from either side of the market. Currently, the indicator is trading within the lower half of the neutral zone, with a reading of 44.

Aptos price analysis: Conclusion

The current Aptos price analysis chart is in favor of the bearish side, as per the report above. Red candlesticks continue to show a greater number, as seen from the hourly and daily charts available above. The price level remains at $8.40, which may arise if the circumstances turn favorable for cryptocurrency. Likewise, the resistance levels currently set at $8.71 may increase if the bulls take over the market in the near future. At the same time, we expect APT to hover near the same price band as it is now.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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