After facing rejection, APT price drops below $9 – Cryptopolitan

The latest Aptos price analysis indicates a renewed suppression from the bearish side, as today’s reports confirm a rejection from the upside. Following a higher spike in price yesterday, the coin’s value has now descended below $9, driven by the return of bearish pressure. Although there was a notable recovery during the previous trading session, the bears have once again intervened today, pushing the price down to $8.94. The next level of support for APT lies further below at $8.51.

APT/USD 1-day price chart: Bearish momentum sparks again

The one-day chart for Aptos price analysis shows a bearish trend as the red candlestick has returned to the price chart. The past few days have proved beneficial for the cryptocurrency, as a steep upward trend has been following. Prior to that, the price had been on the decline until May 25, 2023, but then trends changed and the coin started to gain value; nevertheless, today the lower price stepped down to $8.94. The current price value is still higher than the moving average (MA) value, which is settled at $8.52.

Yesterday, an interesting development occurred as the SMA 20 curve surpassed the SMA 50 curve, indicating a bullish crossover. Looking at the 1-day price chart with the Bollinger Bands indicator, we can identify key values. The upper value, positioned at $8.99, represents a formidable resistance level, while the lower value, at $7.89, acts as strong support for APT. Additionally, the Relative Strength Index (RSI) score has dipped to 53 due to increased selling, reflecting the price deficit.

Aptos price analysis: Recent developments and further technical indications

The four-hour analysis of Aptos price reveals a bearish start to the trading session. The recent downward movement has caused a decline in price. The continuous bearish slide has diminished the chances of a significant recovery. Nonetheless, there are signs of bullish activity, as a slight uptick in price was observed in the last hour. However, the price remains in close proximity to the moving average, which is currently valued at $8.93.

With increasing volatility, the upper Bollinger band has reached the $9.24 mark, indicating heightened price levels. Conversely, the lower Bollinger band rests at $8.09, suggesting a potential support level. The RSI curve has dipped to the 61 index mark, confirming a notable price decline. However, it has now flattened, implying the presence of support even at this level.

Aptos price analysis conclusion

Both the one-day and four-hour Aptos price analyses indicate that bears have regained control following a persistent decline in price over the past few hours. The cryptocurrency price has retraced back to the $8.94 level, validating the downward movement. Based on this observation, we can anticipate further downward price action in the coming hours, supported by the bearish hints in the four-hour price analysis. However, it’s worth noting that a revival of the bullish trend remains a possibility as the price deficit is not particularly steep.

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