The Aptos price analysis is on the bullish side today. Bulls have taken the price up to $8.11 today after a continuous decline for the past week, and it looks like the trend will continue. The price is currently facing resistance at $8.15, but if it breaks through, it could potentially reach up to $8.30 or even higher. On the other hand, if it fails to break through, the support level of $7.85 could come into play and take the price down again.
Most of the cryptocurrencies are currently in the bull market, and APT has been no exception. Top coins like Bitcoin, Ethereum, and Binance Coin have all been on the rise, and Aptos is catching up. The 24-hour trading volume is still in a decrease as the buyers are taking a cautious approach. The market capitalization is currently at 1.60 billion, and with an increase of 1.09 per cent in the past 24 hours, it is expected to increase further if the bulls continue to dominate the market.
Aptos price action on a 1-day price chart: APT/USD forms a bullish engulfing pattern
The 1-day price chart for Aptos price analysis is going in favour of the bulls once again, as they have regained their momentum after facing loss. The price value has gone through some improvement since yesterday. This is really encouraging for the buyers who are intending to control the market and enhance the cryptocurrency value even further.
The technical indicators on the chart suggest a strong uptrend, as the MACD indicator has recently given a buy signal. The signal line and the histogram are both likely to move higher in the coming days, which is a positive sign for APT traders. The RSI is currently at 38.02, showing the bullish market sentiment and suggesting that the buyers could take over soon enough. The moving average indicator at $8.26 is also pointing up, suggesting a bullish bias in the market.
Aptos price analysis: Recent developments and further technical indications
The 4-hour price chart for Aptos price analysis further confirms the bullish momentum. The APT price has soared, fluctuating between support and resistance levels of $7.85 and $8.15. The bulls’ efforts resulted in the APT price rising during the upswing by 1.05% to $8.11.
The 4-hour MACD indicator shows a gradual shift from bearish to bullish, while the signal line is close to crossing the histogram in an uptrend. This further confirms that APT/USD has found a strong support level and may be moving into a bull run soon. The RSI for the chart is currently at 49.49, which is a neutral zone and could go either way. The 20-period moving average has shifted up, showing that the bulls are gaining strength in the market.
Aptos price analysis conclusion
Overall, Aptos price analysis shows that the bulls have taken control of the market, and APT/USD is likely to move up soon, given all the technical indicators pointing in the same direction. It is expected that the buyers will continue to dominate the market and take it higher, but some cautiousness should be exercised as a sudden bearish spiral could take APT down below its support level.
