The bearish trend is resuming its velocity, according to the Aptos price analysis. Over the past week, the price has significantly decreased, and today’s pattern is confirming this trend. The value of the cryptocurrency has suffered significantly as a result of today’s price drop to $9.77. Over the past few days, the currency has battled to maintain its price levels, and there is a good likelihood that the consolidation is going to take a lower break. The coin will keep declining, with support perhaps coming in at $8.15.
APT/USD 1-day price chart: APT to endure more harm
The 1-day Aptos price analysis shows that the bears have returned today and have rejected bullish efforts for recovery. Since April 30, 2023, the trend has been downward as selling pressure appears to be intensifying. The market has been successfully attacked by the bears, who have now reclaimed the upper hand. The cost has dropped and is currently at a level of $9.77, losing 1.21 percent of its value over the last day, and even more damage has been seen over the span of the last week, which amounts to $5.66. Meanwhile, the moving average (MA) is higher than the price value, i.e., $10.16, because of the downtrends in the past week.
The volatility has increased as the Bollinger bands are expanding, with the lower band showing more divergence. This has led to the upper Bollinger band trending at the $12.97 level, representing resistance, and the lower Bollinger band lowering to the $8.79 level, representing support. The Relative Strength Index (RSI), which currently tracks selling activity, has fallen to index 37 today, reaffirming the negative trend.
Aptos price analysis: Recent developments and further technical indications
A further fall in the market value of APT/USD can be seen in the four-hour Aptos price analysis, which indicates a negative trend. Even if the bulls are currently attempting to raise the price level, the bears still hold a stronger position. The price is now settling down at $9.77, and at the same time, the moving average value at present is $9.88 below the SMA 50.
Both of the volatility indicator’s arms are moving downward, indicating a high level of volatility. As a result, the upper Bollinger band has moved to a value of $10.71, and the lower Bollinger band has moved downward and reached a value of $9.52. The indicator also suggests that there may be further losses in the days to come. The RSI score has also drastically dropped, although the indicator is currently rising and is at index 36, which is in the bottom half of the neutral area.
Aptos price analysis: Conclusion
According to the one-day and four-hour Aptos price analyses, the bears are currently in the lead. The exchange rate for the APT/USD is $9.77 as of this writing. It is anticipated that the downturn will last for some time since it hasn’t changed in a few days. In the upcoming hours, the price is expected to decrease further as the bulls might not withstand the bearish pressure.
