The latest Aptos price analysis shows a downtrend in the market. APT/USD has fallen to $8.30 in the past few hours, registering a nearly 2.39% decline. Market bears have taken control of the APT price and are pushing it lower with each passing hour. The market for APT opened today’s session with bullish sentiment, with prices rising to $8.53. However, the bullish momentum was short-lived, and bears started taking control of the market, pushing it lower in subsequent hours.
Aptos price analysis on a daily chart: APT remains in a descending channel
The daily chart for Aptos price analysis shows that APT /USD is still moving within the descending channel. The selling pressure has increased in the past few hours, and APT is now trading near the lower channel line. The resistance level for APT/USD is at the $8.78 mark, which coincides with the upper trend line of this descending channel. If bears continue to dominate, then we could see prices breaking below this support level and heading toward their next support of $8.30. On the other hand, if bulls manage to gain control of the market, then we could see APT/USD bouncing up toward its resistance level.
The Chaikin Money Flow indicator is showing bearish sentiment in the market, with the CMF line being below zero for most of this week. This suggests that investors are selling more than buying and pushing prices lower. The MACD line has also crossed below zero, indicating a bearish crossover and hinting at possible further losses in the near future. The Relative Strength Index (RSI) also suggests a bearish sentiment in the market, with the RSI line currently trading below 50.
Aptos price analysis 4-hour chart: Bears dominate the market
The 4-hour chart for Aptos price analysis shows that APT/USD has been trading in a downward trend early today. The bears have been dominating the market and pushing prices lower. The market has been trading in a range-bound pattern between $8.22 and 8.38 in the past 4-hours.
The Chaikin Money Flow (CMF) indicator is showing bearish sentiment in the market, with the CMF line being below zero for most of the hours today. The MACD indicator is also indicating a bearish crossover, with a histogram bar below the zero line. The Relative Strength Index (RSI) is also trading below 50, suggesting further bearish pressure in the market.
Aptos price analysis conclusion
Overall, Aptos price analysis shows that bears have taken over control of APT/USD and have pushed prices lower to the $8.30 range. The resistance level for APT/USD is at the $8.78 mark, while the next support lies at $8.30. The selling pressure has been increasing in the past few hours, and prices could break down below this support level if bears continue to dominate the market.
