Amid a sharp sell-off in the crypto market, Aptos coin price has been falling for four consecutive days. Moreover, the ongoing downfall accompanied by rising volume indicates a high momentum bearish rally. However, the prices currently halt at $4 support and show signs of potential price reversal. Thus, a temporary pullback would replenish the bearish momentum for continuing the bear rally.
- The Aptos coin price will continue to decline until the downsloping trendline is intact.
- The APT coin may need a significant upside pullback to stabilize prices.
- The intraday trading volume in the Aptos is $895.5 Million, indicating a 52% gain.
From late October to early November, the Aptos price steadily fell under the influence of a downsloping trendline. The several bearish reversal triggers from this trendline indicated the traders are actively selling at this dynamic resistance.
Furthermore, with the rising negative sentiment in the crypto market, the altcoin gave a bearish breakdown from the $7.16-7 support on November 7th. This breakdown encouraged the continuation of a downward spiral, but the losses exceeded the holders’ expectations as the crypto market tumbled.
This sharp sell-off was most likely backed by the massive downfall in the FTX(FTT) crypto exchange. Thus, the post-breakdown fall plunged the prices 42% down to hit $4 psychological support.
Currently, the Aptos price currently trades at $4.3 and shows a lower price rejection candle at $4. This long-tail rejection indicates the exhausted selling momentum and a mere possibility for a bullish reversal.
If the buyers continue to defend this support, the prices rise could to $5 to $6 resistance to replenish the bearish momentum.
Relative Strength Index: the daily-RSI slope dropped into the oversold region accentuates the traders have overextended the selling activity. Thus, the oversold RSI bolsters the possibility of price reversal.
EMAs: the downsloping EMAs(20, 50, and 100) highlight a high momentum downfall in the Aptos coin.
Aptos Price Intraday Levels
- Spot rate: $4.3
- Trend: Bearish
- Volatility: Low
- Resistance level- $5 and $6
- Support level- $4 and $3
The post Is Aptos Coin Price On Its Way To $3 Mark? appeared first on CoinGape.
- Mobile app
- Telegram Channel
- Telegram Group
- 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