The latest Aptos price analysis shows a negative trend for the APT token, which has declined from its peak of $10.67 to its current level of 10.00. The bearish move was preceded by an increase in volume and selling pressure on the market, suggesting that downward momentum could be sustained in the near term. The support level for APT/USD is present at $9.94, and if this level is breached, it could lead to further losses in the price of APT.
The APT/USD has been trading in a range-bound pattern of $9.94- $10.67 for the past 24 hours and it looks like this trend could continue in the coming hours as well. The previous day the buyers were in control and the price of APT/USD had moved up to reach a high of $10.67, but it seems that recent bearish sentiment has taken hold and the price is now hovering around $10.00 again.
Aptos price action on a 1-day price chart: APT price consolidates around $10.00
The daily Aptos price analysis reveals that the price of APT/USD is consolidating around 10.00. This suggests that the buyers and sellers are in a tug-of-war at this level and it is difficult to predict which way the market will go next. The next few hours could be crucial as traders attempt to push the price either above or below $10.00. The APT/USD has lost more than 6% in the past 24 hours.
The market capitalization of Aptos stands at $1.86 billion with a decrease of -6.57 percent, However, The 24-hour trading volume for APT/USD has seen a sharp increase and is currently at $171 million, which suggests that the market participants are actively trading in this pair.
The Bolinger bands (BB) for APT/USD have contracted which indicates a range-bound market. The upper Bolinger band is at 13.15, and the lower Bollinger band is at 9.01, indicating that the price of APT/USD could remain in this range for some time before a new trend emerges. The moving average (MA) is also travelling above the price level at $10.23. The RSI is also in the bearish zone at 38.48 indicating that the price could remain subdued for some time.
Aptos price analysis: Recent developments and further technical indications
The four-hour Aptos price analysis reveals that the price has covered downward movement in the last few hours as well as the bearish momentum has been trending in the market. A steep decline in price has been recorded in the last four hours and the bears have taken control of the market.
The moving average is also trending below the price level and currently, it stands at $10.24, with 50-day MA moving below 200-day MA. The RSI is also in the bearish zone and stands at 36.06, indicating further downside to follow. The Bollinger bands on the hourly chart are also getting narrower, with the volatility in the market. The upper Bollinger band is at 10.99 and the lower Bollinger band is at 9.79, suggesting that price movements could remain in a tight range.
Aptos price analysis conclusion
The Aptos price analysis indicates that the APT/USD pair could remain in a bearish trend for some time, with further downside movements to follow. The support level of $9.94 is still intact and if this level breaches, it could lead to further losses in the price of APT. The overall market sentiment is still bearish despite the recent surge in trading volumes and buyers will have to wait for the price to stabilize before entering the market. The technical indicators are also indicating a bearish trend in the near term and traders should exercise caution when taking positions in this pair.
