- APT token shows narrow range moves and breakdown of the consolidation range.
- Buyers are still trapped as price is trading below neutrality.
APT token shows volatile moves along with a breakdown of the cage setup. The rise in the momentum of sellers makes buyers trapped and causes them to lose strength. Moreover, the token slips below the significant moving averages and struggles to hold near $8.00.
Aptos token needs to claim a 50-day EMA to attain the neutral marks where buyers gradually accumulate the token price and get close to $9.00 near the lows of the consolidation phase.
Aptos price prediction suggests it is in a downtrend after slipping from the downward trendline. After the start of 2023, the APT price was caught in an uptrend but soon broke its immediate support and faced rejection from resistance. However, the formation of the evening star pattern after the uptrend might be the cause of the current downtrend, as seen in the daily time frame chart.
If the bearish trend persists, the price may hit the secondary support level of $6.00. The Bears will have to exert a lot of effort to get the coin to tip in their favor and place the ball in their court. The primary resistance level of $19.00 is to be watched out for in the upcoming market session, and if so, it may move on to the secondary resistance level of $10.00 if the bulls are successful in their efforts.
Daily Charts Shows Breakdown of Consolidation
On the daily chart, the APT token slips below the significant moving averages and trades below the trajectory swing of $9.00. When writing, the APT token trades at $8.5991 with an intraday gain of 4.55%. Moreover, the trading volume also spurt by 6.70%, showing the interest of investors.
Aptos token price showcases the token’s downtrend momentum over the daily time frame chart. However, APT cryptocurrency is still trying to sustain above the $9.00 level.
Aptos crypto price must maintain above the $8.60 level to recover towards neutral levels. However, volume change can be seen as below average and under the sellers’ control. Buyers must come forward to rescue APT token during the day’s trading session.
What Traditional Indicators say?
The APT token shows a negative outlook on the short-term charts and struggles to attain a 20-day EMA.
Aptos token indicates a downside momentum over the daily chart. The APT token must attract more buyers during the day’s trading session. The APT token price might get support from the $8.50 level to retrace its path toward $10. However, the volume change is still under the influence of sellers, and buyers need to come to push the token toward the upper price limit.
The RSI of the token is near 45 and shows a positive crossover on the curve. The MACD curve also shows a bullish crossover and green bars on the histogram.
Conclusion:
Aptos token shows downside momentum, but buyers continue to accumulate. APT cryptocurrency must attract more buyers during the day’s trading session to rescue the gains.
Technical Levels:
Support Levels: $6.00
Resistance Levels:$10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.