- Aptos Price Prediction suggests a rise and bullish trend reversal is possible.
- APT Price is stuck into the narrow range of consolidation.
- The Aptos crypto defends $8.00 support.
Aptos Price Prediction suggests a rise in the long term and showing initial signs of the bullish trend reversal. From past few weeks APT Price is consolidating in the narrow range between $8.00 to $9.00 and likely to break either side soon.
Aptos Price performed well in the beginning of 2023 and hit a swing high at $20.00. However, the $20.00 turned out as a big hurdle and buyers failed to give the follow up momentum.
Aptos price faced rejection and slowly the prices began to decline and took the opposite direction. The downfall took halt near $10.00 and prices entered into a consolidation phase.
At the beginning of May, Sellers took over the control and pulled the prices down below $10.00 which hurted the sentiment of investors. However, APT crypto price did not collapse much and $8.00 acted as a strong support.
Aptos Price is trading at $8.9054 with an intraday rise of 4.16%. The 24 hour volume to market cap ratio is 0.0468. The pair of APT/BTC is trading at 0.00032678 with an intraday rise of 2.45%.
This pair is also near to the crucial support and short term trend reversal is possible. The correlation between APT and BTC in the past 7 days is 0.55.
Is the correction over in Aptos Price?
Aptos Price struggles to climb above the 50 day EMA which is acting as an immediate hurdle for the bulls. In coming weeks if the prices sustains above the 50 day EMA then it will increase the probability of $10.00 breakout.
Till buyers are defending the $8.00 support we may say that the correction is over and prices are consolidating for base formation. If the consolidation continues for a few more weeks before the range expansion then we may see surprising returns.
On the other hand, if APT crypto fails to recover and prices drop below $8.00 then more down side will open.
The technical analysis suggests, APT Price has corrected a lot and is consolidating near to crucial support. Therefore, the prices are expected to hold $8.00 and show some positive reversal.
Trend reversal in APT crypto possible
APT crypto price formed a bullish hammer candle on a weekly time frame which increases the probability of trend reversal. However, the price will gain momentum when it breakout of $10.00.
The technical indicators like MACD curve are rising upward and generating fresh positive crossover. It shows that buyers are returning back to track and recovery in Aptos is possible. The RSI curve at 53 sloping upward denotes strength and confidence of the bulls.
Conclusion
Aptos Price Prediction is bullish and suggests a rise in the long term. Presently, APT crypto is near to the crucial support and showing signs of bullish trend reversal. The technical analysis suggests, the prices have corrected a lot and it is expected to hold the $8.00 support.
Technical levels
Resistance levels: $14.6085 and $20.4572
Support levels: $7.7200 and $6.0000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.