Aptos (APT) Climbs, But There Is a Catch: A Guide to What it Is and How it Works

APT, the native token of Layer-1 blockchain Aptos, has risen by 2% over the past 24 hours. However, a review of the one-day chart suggests that the Aptos price rally merely mirrors the uptick in the broader cryptocurrency market during that period.

Layer-1 blockchain Aptos’ native token, APT, has seen a 2% price increase in the last 24 hours. However, a glance at the one-day chart reveals that the Aptos price rally is largely a reflection of the broader cryptocurrency market uptick during the same time frame.

APT is encountering strong bearish pressure, which may quickly erase these gains, despite the recent uptick. This analysis examines the elements contributing to APT's持續 bearish price outlook.

Aptos Climbs, But There Is a Catch

APT has seen an 8% price decrease over the last week. This decline has pushed the coin’s value below its 20-day exponential moving average (EMA) and 50-day small moving average (SMA). An asset's average price over the last 20 trading days is measured by the 20-day EMA, whereas its average price over the last 50 trading days is measured by the 50-day SMA.

When an asset's price falls below key moving averages, it suggests a shift in momentum to the downside. A drop below the 20-day EMA indicates a short-term bearish trend, highlighting weakening recent price action. On the other hand, falling below the 50-day SMA is a stronger indication of a potential longer-term trend reversal, implying that upward momentum may be fading.

Continue reading Aptos Crypto (APT): A Guide to What it Is and How it Works

The setup of APT’s moving average convergence/divergence (MACD) further strengthens the bearish outlook. The MACD line (blue) is currently positioned below both the signal line (orange) and the zero line.

The MACD serves as an indicator of price trends and momentum, helping to identify potential buy or sell signals. This alignment indicates a strong bearish trend, suggesting that overall momentum is negative and confirming APT is in a downtrend.

APT Price Prediction: Charting the Course to $10.07

At press time, APT is trading at $8.27, just above a support level of $7.87. If buying pressure weakens, the price may test this support, and failure to hold could see APT plunge further to $5.66, where it might attempt to establish a new support base.

This bearish outlook would be invalidated if APT’s price rally gains strength, driven by renewed demand. In this scenario, APT would likely bounce off the $7.87 support and aim to climb above the $10.07 level.

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