The Aptos price analysis is bearish today as APT declined further down to $8.36. The price trend line for the APT/USD pair has been downwards for the past month and the past week, as the cryptocurrency has lost a significant amount of value over this period, and the price has shrunk to a great extent. However, today’s downtrend can prove detrimental if APT fails to get support at $8.23 first and then at the $7.64 mark.
APT/USD 1-day price chart: Bulls to defend critical support levels
The coin is currently trading at $8.36, according to the 1-day chart for Aptos price analysis. This indicates that bears have driven down the price today. Due to today’s bearish momentum, APT has lost about one percent of its value in terms of price over the past 24 hours and 16.64 percent over the past 7 days. However, given that the RSI has fallen precipitously, the data may soon change, and we may soon see another decline. However, over the previous 24 hours, the trade volume climbed by percent.
The upper Bollinger band at $11.16 represents resistance for APT, and the lower band is at $8.24 and is the lowest support for APT/USD and may soon be put to the test. The volatility is fairly significant. The volatility indicator’s mean average is $9.70. A bearish indication has been indicated by the price’s trading below the moving average (MA).
The relative strength index (RSI), which has dropped to index 30, shows the movement curve, and the market’s severe selling activity are the main indicators that the price will continue to decline.
Aptos price analysis: Recent developments and further technical indications
The most recent 4-hour Aptos price analysis confirms our suspicions even more because a sharp correction occurred during the last four hours, indicating a downward price trend. The downfall was significant, and the price was reduced to $8.36. At the moment, bulls are trying to provide support to the price function but have not succeeded so far.
The volatility on the 4-hour chart is declining as the Bollinger bands close in, and the price has also fallen below the volatility indicator’s mean average line, which is at $8.45; this is another bearish crossover in the previous four hours. The RSI, which fell downwards at a steep angle at the start of the trading session but has since swung slightly upwards due to bullish efforts, also provides an explanation for the fear of a big fall in the APT price. The indicator is now trading in the neutral zone’s lower half.
Aptos price analysis: Conclusion
The coin is experiencing heavy selling pressure, according to the Aptos price analysis. Strong negative momentum is indicated by the price’s movement below the moving average and the average of the Bollinger bands on the 4-hour charts. A selloff is also indicated by the RSI. APT might shortly retest the $8.23 support level, but if it breaks down, the APT will go below the $8 handle.
