- The APT coin price is trading below the demand zone on a 4 hour time frame.
- The APT coin price is bearish as it fails to hold the short term demand zone on a daily time frame.
- The pair of APT/BTC is trading at the price level of 0.0002609 with a decrease of -2.41% in the past 24 hours.
The APT coin price as per the price action is bearish on a daily time frame. The coin price seems to have been affected by the overall bearish trend cryptocurrency currency market. Recent bearishness led to coin prices facing strong rejection at the supply zone and falling back to the demand zone. As of now, the coin price has started consolidating below the demand zone. The coin price is making lower low and lower high formation on a daily time frame.
The APT coin broke the important short-term supply zone on a lower time frame which resulted in the bearish rally. The APT coin price is currently trading below the 25 and 50 Moving Averages. Recent bearishness led to the breakdown of the 25 and 50 MA. Moving upwards the coin price can be seen facing strong rejection of these MAs. At present, the coin price is staffing at the lower band of the Bollinger hand indicator, after failing to surpass the upper band. Volumes have increased as the APT coin price fell into the demand zone.
The APT coin price is trading in a bearish trajectory following the surprise sell off in the global markets
Relative Strength Index: RSI curve is currently trading at the level of 20.15.RSI curve is yet to cross the halfway mark of 50. Once the coin price breaks the supply zone, the RSI curve can be seen moving upward crossing the halfway mark of 50, supporting the trend of the APT coin. The RSI curve has also crossed the 14 SMA downward indicating some bearishness before the further upwards movement. If the coin falls below the demand zone, the RSI curve can be seen falling further.
Supertrend: The APT coin price fell as it faces strong rejection from the supply zone. Until now the coin price was continuously resting at the super trend buy line but recent bearishness led to a breakdown of the super trend line. As a result, the coin price fell and the super trend indicator triggered a sell signal. Moving upward the APT coin price can be seen facing strong bearish pressure while approaching the supply zone
Average Directional Movement Index: The ADX curve has been falling for the past couple of trading days. The recent fall in the APT coin price has led to falling in the ADX curve. As of now, the APT coin price is consolidating below the demand zone, as the ADX curve turns upwards. This could result in a halt in price movement and possible change in it. If the coin price bounces off the demand zone, the ADX curve can be seen risking up strongly, supporting the trend.
The APT coin price has fallen below the demand zone on a daily time frame. As per the price action, the APT coin price is forming a bearish chart pattern. It remains to see if the coin price will bounce off the long term demand zone or break it and fall. Investors should wait for a clear signal and then act accordingly.
SUPPORT: $4.51 and $4.61
RESISTANCE: $6.71 and $9.71
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.