Aptos Price: Will APT Crypto Price Retest Previous $20 High?
- Aptos price defended $10.00 and is consolidating in a narrow range.
- The APT crypto price is struggling to climb above the 50-day EMA.
- Aptos cryptocurrency fell by 4.23% last month.
Aptos price fell by about 4.23% last month, forming a Doji candlestick pattern showing that selling was absorbed in the demand zone. The APT crypto price defended the $10.00 support, giving a decent bounce of about 24%. It indicates that some genuine buyers are active at the lower levels and expect recovery in the coming months. However, Apto’s crypto price struggled to climb above the 50-day EMA and is consolidating in a narrow range.
Aptos price is trading at $11.4547 with an intraday decrease of -5.80%. The 24-hour volume to market value ratio is 0.3218. The APT/BTC pair is trading at 0.00041228 BTC with an intraday decrease of 4.51%, indicating weak correlation between BTC and APT.
In early January, the APT crypto price performed well, rising around 350% from the months lows. Later it reached a high of $20.00 and less profit booking visible from the higher levels. Aptos price consolidated in the supply zone, but slowly the bears took control and prices began to decline, forming lower swing lows.
Will Aptos Price make a U-turn from the demand zone?
Aptos price fell below the 50-day EMA. In mid-March, the APT crypto price found support at $10.00 and ended up forming a bullish hammer candle. It raised hopes of a bullish trend reversal, but prices entered consolidation and showed signs of base formation.
Technical analysis suggests that if the Aptos price succeeds in climbing above the 50-day EMA, the possibility of range extension will increase. Otherwise, it may remain in consolidation for a while longer.
APT Crypto rate lost downward momentum
The APT crypto price is close to the demand zone and the buying volume is also on the rise. Aptos price corrected almost 45% from the recent peak and the bears appear to be losing momentum near the demand zone.
MACD reverses upwards and may generate a positive crossover indicating mild bullishness. However, the RSI at 46 sloping sideways denotes neutral territory.
Conclusion
Aptos price fell 4.23% last month but defended the $10.00 support level. Technical analysis says that the APT crypto price is consolidating for the base formation and the probability of range extension is high. However, the re-bound is reliable if the APT price stays above the 50-day EMA.
Technical levels
Resistance levels: $16.0517 and $20.3825
Support levels: $9.8073 and $6.1064
Disclaimer
The views and opinions expressed by the author, or any persons mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
