Aptos Price Prediction: When APT price correction will take halt?

• Aptos Price Prediction remains bullish for the long term. 
• APT price fell 10% approx on the current week.
• Aptos Price dropped below the 50 day EMA showcase downtrend. 

Aptos Price fell 10% approx on a current week and is approaching toward the important support of $8.00. APT price seems to be retracing downward after showing a sharp up move in the January month. 

Aptos crypto volume is on a declining phase indicates less participants are showing interest in the lower levels. The price is trading below the 50 day EMA showcase short term trend is in a downward direction. However, the price is near the demand zone and downside seems to be limited. 

Aptos Price is trading at $8.2722 with an intraday decline of -3.81%. The 24 hour volume to market cap ratio is 0.1145. The pair of APT/BTC is trading at 0.00030147 with an intraday decline of -3.29%. The chart structure of Aptos with the BTC pair is forming a quite similar pattern to the USDT pair. 

Therefore, profit booking is visible in both the pairs. In the month of January, Aptos Price performed well and rallied 250% approx in the short period of time. However, the buyers failed to hold the higher levels and faced hurdle near $20.00. Slow and steady prices began to decline and eroded the majority portion of the previous gains. 

Will Aptos(APT) Price respect $6.00 support?

Aptos Price Prediction remains bullish for the long term till it sustains above $6.00 support. From mid of March to mid of April, APT price consolidated in the narrow range between $10.00 to $14.00. It tried to form a short term base and created a hope for the trend reversal. Sadly, it broke down the lower range and continues to decline. 

Aptos Price has corrected a lot and is trading near to the crucial support. If the buyers succeed to defend the $6.00 then buyers may try to reverse the trend. However, before the trend reversal short term consolidation or base formation is needed. On the other hand, If the price dropped below $6.00 then it will surely raise concern for the long term investors.

APT Price near to oversold territory

APT price forming bearish pattern on a weekly time frame but buyers are trying to defend the $8.00 support. The overall market sentiment is mild bearish which might negatively impact the prices of APT. However, the technical analysis suggests the downfall in APT price might take halt near $6.00 and expected to enter consolidation. 

The MACD had generated a negative crossover and histogram bar is on decline. It indicates bearish momentum may continue for some more time. The RSI at 30 denotes oversold territory and short term bounce is possible in coming months. 

Conclusion

Aptos Price Prediction favors the bulls and suggests a rise in the long term till it sustains $6.00 support. APT price fell 10% in the current week and is trading near to its crucial support. The technical analysis suggests, Aptos price correction might take a halt near $6.00 and likely to enter consolidation.

Technical levels

Resistance levels : $14.00 and $20.00

Support levels : $8.00 and $6.00

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.