Aptos price analysis reveals that the coin has been trading within a bearish trend for over a day. The price of the APT/USD pair started at $8.82 and slipped to an intraday low of $8.25 which is a 5.58 percent decrease in the last 24 hours. The buying pressure was strong in the market and this led to a break out above $8.80. However, the bearish trend continued and the price quickly dropped back below $8.80. The support level for APT/USD is present at $8.14 and if it stays above this level, then we might see some bullish momentum in the price of Aptos in the near future.
Aptos price analysis daily chart: APT price declined below the $8.80 level after a bearish breakout
The 1-day price chart for Aptos price analysis shows the bearish momentum has been intensifying. The price has been downgraded to $8.25 with selling pressure increasing. The previous day the bulls were in control of the market and managed to push the price above the $8.80 level. However, recently, bearish pressure gained traction and pushed the price significantly lower below this key support level.
The market’s perception of APT remains uncertain as investors closely monitor price swings for signs of a probable rising trend. The declines in market capitalization and 24-hour trading volume of 6.06% and 3.20%, respectively, to $7,824,355,979 and $142,947,972, demonstrate the market’s shaky trust.
The 20-EMA is currently moving below the 50-EMA, indicating that the bearish trend is likely to continue. The MACD indicator has formed a bearish crossover and is trending downwards. This suggests that we might potentially see more downside in Aptos prices in the near future. The MACD blue line is currently just above the signal line, hinting at further downside potential. The Relative strength index is currently at 28.63, signifying that the coin is currently in a neutral zone.
Aptos price analysis: Recent developments and further technical indications
The 4-hour price chart for Aptos price analysis is showing signs of bearish momentum as the price decreased quite significantly during the last four hours. The price function is again covering the downward range as during the last four hours, the price has been trading in a tight range between $8.14 and $8.80 levels.
The hourly moving average indicator is currently trending downwards at $8.43 with the 20-day MA currently below the 50-day MA, indicating further bearish pressure in the near term. Furthermore, the RSI is currently at 30.33 indicating an oversold region, suggesting that the price could soon rebound from its current level. The moving average convergence divergence (MACD) indicator is currently in a bearish crossover, with histogram bars also decreasing in size, showing a bearish pattern.
Aptos price analysis conclusion
To sum up, Aptos price analysis shows a bearish trend in the past 24 hours and the coin is currently trading at $8.25. The APT price analysis shows a continuation of the downtrend that still continues after the recent market crash. The bullish pressure is present but it is not enough to trigger a price surge, and if the support level at $8.14 fails to hold, Aptos prices could further decrease in the near future.
