Aptos Crypto Analysis: What to Expect with APT Crypto in 2024

• 1 Aptos crypto shows selling pressure and is heading toward the demand zone of $7.00.
• 2 Bears have gained momentum and looked aggressive in the past sessions.

The Aptos crypto price has been struggling to break above the $9.22 resistance level and has been stuck below it. The Aptos crypto currently needs more support from buyers for an upward movement toward recovery. The trading volume is low, which indicates a lack of interest and momentum. However, Aptos cryptos have been trading above the 20, 50, 100, and 200-day daily moving averages, which are bearish signals.

The Aptos crypto price lost 9.03% last week; however, it gained by 5.80% in the month. Moreover, APT cryptos witnessed an incline of about 6.83% in the past six months and a gain of 87.75% over the past year.

Its price has dropped by around 121.39% year to date. These trends collectively show the APT coin is in the momentum throughout the year.

Technical indicators suggest the uptrend trend of the price. Relative strength index showcases and moving average convergence divergence both indicate the minor correction of Aptos crypto price.

The price at present demands significant support from the bulls to make a recovery as it is facing major resistance from the prior resistance points and multiple moving average levels. Buyers are dragging the price action into their grasp, as per the candlestick patterns.

The APT crypto price may soon attempt to make a bullish recovery. However, as it is trading below the key EMA levels, the buyers will have to face multiple resistance levels to attain the target. Buyers are presently making continuous efforts to retake charge of the trend.

On the daily charts, Aptos crypto shows sellers’ dominance in recent times and slipped below neutrality, showing a negative outlook on the charts. Moreover, the price is taking support on the 200-day moving average.

Overall, the technical indicators and price action suggest that Aptos crypto facing mild correction and that the uptrend may continue.

Short-Time Horizon Analysis

Source: Tradingview

Aptos crypto has shown sellers’ strength, and profit booking in the crypto was noted on the short-term charts. Moreover, the price traded below the key EMAs, which shows further weakness in the crypto.

The RSI curve is near the oversold region at 33, and a negative outlook was noted, indicating bearishness in the crypto. The MACD indicator also persisted to form red bars and a bearish crossover was noted, which signals corrective moves.

Technical Evaluation Of Aptos Crypto

Source: Tradingview

At the time of publishing, Aptos crypto (USD: APT) is trading above the 50 and 200-day DMAs (Daily moving averages), which supports the price trend. The current value of RSI is 46.95 points. The 14 SMA is above the median line at 58.61 points, which indicates that the Aptos crypto is bearish.

The MACD line at 7.97 and the signal line at 9.35 are above the zero line. A bearish crossover is observed in the MACD indicator and it signals more bearishness for the APT crypto price.

Summary

Aptos (USD: APT) technical oscillators support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the APT crypto price. Aptos Price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.

Technical Levels

Support Level: $7.04.

Resistance level: $9.22.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Amanda Shinoy

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.

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