APT price faces rejection at $8.03 as selling pressure persists. – Cryptopolitan

Aptos price analysis for today shows that the APT/USD pair has fallen to a low of $8.03 after a bearish drive. The market sentiment is bearish, and the volume of trading has dropped substantially. The APT price is facing resistance at the $8.23 level and has been unable to make a breakout above this level despite an extended period of consolidation around it. On the other hand, support for Aptos appears strong at the $7.79 level, and it is unlikely that prices will fall below this level in the short term. The price has declined by 2.36 percent in the past 24 hours, and the market capitalization for the coin is currently at $1.58 billion. The 24-hour trading volume is currently at $98 million. Overall, Aptos price analysis today suggests that the APT/USD pair is likely to remain rangebound between the current support and resistance levels in the near future.

Aptos price analysis 1-day chart: APT price level drops to $8.03 after a bearish swing

The daily chart for Aptos shows that bearish market conditions will likely persist in the near term. The APT price has fallen by 2.36 percent at the time of writing, and the volume of trading has been decreasing over time. Since the market is dominated by sellers, the APT/USD pair is most likely to maintain its proximity to the $7.79 support level in the foreseeable future. Additionally, if the bears take the reins and drive the price below this level, it may challenge additional support levels at $7.62 in the days ahead. The next resistance mark on the upside will be $9.08 if buyers gain control and break above $8.23.

The moving convergence divergence (MACD) for the pair is currently in bearish territory and is indicating that the market is in a downtrend. The 50-day MA is currently at $7.96, and the 200-day MA is at $7.98, indicating a bearish trend for the token shortly. The relative strength index is also trading below the 35.37 level, which indicates that there is still a lot of selling pressure in the market and that it could continue to move lower if the current conditions persist.

APT/USD 4-hour price chart: Latest development

The 4-hour Aptos token shows that the market has been in a clear downward trend for the past 24-hour period. The prices have been stuck between the $9.0864 and $7.8019 range, and it seems like the market will start heading upward once it breaks out of this range. The red candlestick pattern is a sign of bearish traders, and the overall market sentiment seems to be negative.

The relative strength index (RSI) is currently at 45, which indicates that the market is in oversold territory. This could signal the beginning of an uptrend, but it can also be a sign of further bearishness. The MACD is also showing bearish signs, with its red histogram trending downward. The 50-day MA is still below the 200-day MA, indicating that the bears are still in charge of this market. 

Aptos price analysis conclusion

Overall, Aptos price analysis today suggests that the APT/USD pair is in a clear downtrend and is expected to continue to head lower in the short term. The key support level is set at $7.79, while the resistance level is $8.23. Any breakout above or below these levels could signal a shift in market sentiment and lead to further volatility in price action. Therefore, traders should remain vigilant and wait for a breakthrough before taking any positions in this volatile market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.