Aptos (APT) Coin: Will APT Coin Price Fall To the Lowest Level?

• The Aptos (APT) coin has experienced an increase of 0.63% and is currently trading at $5.32.
• The EMAs indicate that the bears have dominated the price in the current market phase.

Aptos (APT) coin was launched in October 2022. The APTOS is a native token of the layer-1 blockchain network developed by aptos lab. It uses the move programming language to develop high throughput and robust security for smart contracts.

Aptos (APT) Coin: Technical Analysis

The APT coin’s price is observing an increase of 0.63% during the intraday trading session. The current value of the coin is $5.32 with a 24-hour trading volume of $130,120,078, which shows an increase in the volume by 9.45% since the last trading session. The current market capitalization of the coin stands at $1,261,650,440. Additionally, the coin has a circulating supply of 237,400,124 APT.

Technical Analysis Of APT Coin

The APT coin is trading in a downtrend after the bullish momentum that started on January 9, 2023. On a closer look of the chart, we see that the price has broken above the trendline. A strong support level was formed at $4.97 and this played an important role in pushing the price up.

The coin is currently trading below the previous support level at $5.37 after a rise of more than 15% because of the strong buying pressure. In the last three trading sessions, the price has formed a strong bearish candle at $5.65, reflecting the bears’ presence at that level.

If the APT coin’s price gives a breakout of $5.65 then the price may be seen rising to the resistance line forming above. If it also breaks above the resistance level at $6.48 then it may reach its resistance level at $7.75. However, for the price to continue its bearish trend, it should close below $4.97 after which it may fall to $3.54.

Technical Indicators On the APT Chart

The coin price is above the 20-day EMA and below the 50, 100, and 200-day EMAs, indicating that the bears are currently in control but the bulls are trying to push the price up.

The relative strength index (RSI) currently stands at 48.62, just below the 50 mark on the middle band. This suggests that the bulls are attempting to push prices higher, but they are doing so with relatively low strength.

Conclusion

Overall, the price structure of the Aptos (APT) coin is bearish. The price recently broke above the small trendline which gave it a bullish momentum. If the APT coin’s price gives a breakout of $5.65 then the price may be seen rising to the resistance line forming above. If it also breaks above the resistance at $6.48 then it may reach its resistance level at $7.75. On the other hand, for the price to continue its bearish trend, it should close below $4.97 after which it may fall to $3.54.

Technical levels

• Resistance Levels: $5.65 and $6.48
• Support Levels; $4.97 and $3.54

Disclaimer

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