Aptos Coin Forecast: Is The APT Token Close To Bottom Levels?

• Aptos coin’s price is still trading above +82.24% from its all-time low level.
• The current trading price of the crypto is $5.59, trading with a decline of -0.71%.

The derivative trading volume of the crypto has declined by -1.53% in the last 24 hours. It resulted in $113.69 Million trading with a long/short ratio of 0.9732. That ratio caused a long liquidation of $99.45K, which is a positive sign for the crypto.

The total supply of APT crypto is 1.05 Billion APT, following a circulating supply of 229.5 Million APT. Presently, the diluted market cap of the crypto is $5.87 Billion.

The APT coin was launched on 12 December 2022 and uses POS consensus mechanisms. It has the maximum volume in USDT, currency following a rate of 75.66%. The highest volume of APT is traded in the HuobiPro exchange following Binance on second rank with 26.36% of the volume of the crypto.

Aptos has witnessed a decline of -1.08% in market cap in the last 24 hours resulting in $1.27 Billion. However, the volume has advanced by +13.69% in the last 24 hours following a volume/market cap ratio of 5.55%. The current market cap rank of the crypto as per Coinmarketcap is #36.

Aptos Price Technical Analysis

The market has been witnessing a persistent downtrend as the Aptos has been losing its value from its previous highs. The bearish sentiment has been dominating the market. There is no indication of a reversal or a shift in the market‘s character to favor the bulls.

The market has been in a downward spiral for a long time. The price of the Aptos Crypto has been dropping continuously. It has triggered a death cross between the 50-day and the 200-day EMAs. That signals a negative trend for the price in the long term.

The market’s momentum is weak as the RSI of the crypto has been falling and failing to rise above 50. It implies that cryptocurrency’s price is likely to stay bearish until the RSI breaks out of 50 and reaches the overbought zone levels.

Aptos Volume Analysis

The APT token has seen a long-term decline in open interest. There has been no noticeable change in the OI recently. It shows that the traders are not interested in the crypto.

Conclusion

The market structure is negative as the APT coin has been dropping from its previous highs. There is no indication of a trend reversal or buyer interest in the derivatives data. The RSI and the EMAs are also following the bearish pattern. However, if the price can rise above $9.50, it will signal a change in the market’s character. It may lead the token to higher levels.

Technical Levels: 

• The support levels for Aptos Crypto are $3.00 and $5.50
• The resistance levels for the Aptos Crypto are $13.60 and $18.60

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.