In the daily time frame chart, the Aptos coin price shows the formation of descending triangle pattern. In theory, this pattern is a bearish continuation that intensifies the selling momentum if the coin price breaks the pattern’s neckline support. However, the momentum indicator RSI shows an evident divergence indicating this pattern holds an opportunity to give a bullish outcome and buying opportunities to interested traders.
- A descending triangle pattern governs the current downtrend in Aptos price
- A potential bullish breakout from local resistance of $10.9 with encourage APT price for a 12% rise before hitting major resistance
- The intraday trading volume in Aptos is $245.5 Million, indicating an 87% gain.
Over the past three months, the falling Aptos coin price formed a descending triangle pattern. Under the influence of this pattern, the coin price is strictly resonating between a downsloping trendline and horizontal support.
The falling trendline constantly hammering the APT price with replies selling pressure will eventually plunge the price below the neckline support of $9.8. As of now, the coin price trades at the $10.7 mark and has recently rebounded from the neckline support.
This bullish reversal may trigger a bull cycle within this pattern, which may surge the price 12% higher to test the overhead trendline.
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Anyhow, a daily candle closing above the support may accelerate the selling pressure and tumble the coin price 27% down to hit the $7.1 support.
On a contrary note, a breakout above the trendline will offset the bearish thesis and encourage a fresh recovery rally. This breakout may drive the prices to a bullish rally to $14.1, followed by 16.3% recording a potential rally of 50%.
Relative Strength Index: Contrary to the falling price, the daily RSI slope moving reflects decreasing bearish momentum in the market. Thus, if the market sentiment improves the APT price holds a strong possibility of upside breakout.
Exponential Moving Average: the daily EMAs(20, 50, and 100) moving above the Aptos price created multiple resistance against buyers.
Aptos Price Intraday Levels
- Spot rate: $10.7
- Trend: Bullish
- Volatility: Medium
- Resistance level- $10.9 and $12.2
- Support level- $9.7 and $8.3
The post Aptos Price Prediction: Bullish Pattern Setup Prepares APT for 52% Rally; Enter Today? appeared first on CoinGape.
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