
Amid the ongoing consolidation in the crypto market, Aptos price shows the formation of a double-bottom pattern. This bullish reversal pattern is often spotted in the market bottoms and offers a strong entry opportunity. Currently, the altcoin shows a breakout attempt from $4.7, which will encourage a recovery rally to surpass the $5.48 neckline resistance.
Key points:
- The Aptos coin needs a $4.7breakout to obtain an additional dose of sustained recovery
- A bullish divergence in the RSI slope shows further growth potential
- The intraday trading volume in the Aptos is $895.5 Million, indicating a 52% gain.
Source- Tradingview
Amid the last week’s sell-off in the crypto market, the Aptos coin price plunged to the $3.78 mark. However, the altcoin went sideways after the downfall and retested $3.78 within a week. On November 14th, the price rebounded from the mentioned support with a 4-hour bullish engulfing candle, indicating the buyers are actively defending this level.
A bullish reversal has surged the Aptcoin coin price by 24.1%, and it currently trades at $4.68. Moreover, the rising volume during this price jump indicates a genuine recovery with a high possibility of breaking the local resistance of $4.7.
This potential breakout may offer additional footing for buyers to continue the recovery forward Thus, with sustained buying, the prices may rise 16.6% to hit $5.48.
Moreover, this recovery rally would near complete the formation of a double-bottom pattern. Furthermore, in response to the bullish pattern, the price would continue to the recovery march.
This development should raise the altcoin by 46.2% to reach $6.85.
Technical indicator
Relative Strength Index: the 4-hour chart RSI slope shows an evident bullish divergence bolstering the motives of bullish theory.
EMAs: the 50-day EMA moving at the $4.8 mark offers an additional barrier against the potential bullish recovery.
Aptos Price Intraday Levels
- Spot rate: $4.69
- Trend: Bullish
- Volatility: Low
- Resistance level- $4.7 and $5.4
- Support level- $3.78 and $3.5
The post Emerging Bullish Pattern May Push Aptos(APT) Price To $6.68 appeared first on CoinGape.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks