Aptos Price Prediction: APT to Break Above $10 Mark Soon?

• Aptos price (APT) surged 8.81% in the last 24 hours and is currently trading at $7.33.
• The price (APT) is consolidating in a 17% range forming a Darvas box consolidation.

Aptos price showed bullishness in January 2023 and the price hiked by nearly 200% breaking above the previous consolidation phase. Thereafter, the price entered a correction phase forming lower highs and lower lows. 

The price has been forming a decline in parallel channel pattern since February 2023, popularly known as the bullish flag pattern after the breakout which may again lead to the continuation of another bullish rally. Currently, the APT token has a trading volume of $766.64 Million with an incline of 841.46% over the past 24 hours. The volume-to-market cap ratio of the APT token is 47.51%, indicating low market volatility.

Aptos (APT) is a smart contract platform that uses Move, a new language that is better than Solidity, the most common language for EVM-based platforms. The Move has features that make it easier to verify, update, and reuse smart contracts. Aptos aims to be a secure and modular platform for decentralized applications.

Aptos Price Prediction Using Price Action Strategy

Currently, the price seems to be forming a Darvas box consolidation pattern and consolidating in a range of 15-20%. The short-term outlook for the price predicts that the price may show a trending move if breaks above the box consolidation.

However, analysts say that price action seems indecisive until it trades inside the range. 

The long-term outlook for the price is still positive until the price remains above the previous breakout zone. However, the price needs to add some buying volume to come out of the correction phase.

APT Price Forecast from Indicators’ point of view

The EMA analysis indicates some bullishness in the short-term as the price was successful in closing above the 50 EMA. However, the price is treading below the 200 EMA which may try to halt the momentum if the price breaks out.

MACD lines have made a bullish crossover. Also, Histogram bars are being formed above the mean line with increasing height indicating a positive sentiment being built in the market for now.

RSI has gone sideways indicating a neutral bias in the market at the current time.

Conclusion

Aptos price prediction concludes that the price made a  surge of nearly 200% in January 2023 followed by a correction forming a channel pattern. currently, The price is in a Darvas box consolidation pattern, which means it is moving sideways in a 15-20% range. The price may start a trend if it breaks out of the box. Aptos price is still bullish in the long term, but it needs more buying volume to end the correction phase. The price action is unclear until it leaves the range.

Technical Levels

• Support levels: $5.54 and $3.45.
• Resistance levels: $9.34 and $12.73.

Disclaimer

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