APT consolidation continues as it remains rangebound near $10 – Cryptopolitan

The Aptos price analysis shows that, the coin has not broken out of the consolidation. The downward break was rejected by the buyers side, and yesterday, the coin resurfaced back to $10.02 after swinging low towards $9.45. The reversal of trend prevented the break lower; however, the coin’s price has slightly decreased to $9.92 today, and a little more deficit may be observed during the day. The coin will continue trading near the current price as the hourly volatility is also decreasing further.

APT/USD 1-day price chart: Consolidation yet to continue

The one-day Aptos price analysis confirms that the coin will continue its consolidation period. The support is still in place despite the bearish pressure that was evident, so APT is still rangebound. The coin has lost 1.71 percent over the past week as a result of the bearish dominance that has occurred during that period. Yesterday, as the token price began to rise again, some bullish efforts were visible. However, today, new bearish resistance emerged. The price has slightly corrected to $9.92, and if selling pressure continues today, there is a chance that it could decline even further. However, the token reports a 2.07 percent increase in value for the past 24 hours.

The price is currently trading below its moving average (MA), which is $10.14, while the MA continues to trend below the SMA 50, which is an indication of a bearish market. The top and lower values of the Bollinger Bands Indicator are as follows: $12.69 indicates the highest resistance, and $8.82 represents support. Following today’s correction, the Relative Strength Index (RSI) score is now 39, and its curve is also slightly downward, indicating market selling activity.

Aptos price analysis: Recent developments and further technical indications

The four-hour Aptos price analysis reveals a bearish trend with a modest decrease in the APT/USD market value. Although the bulls raised the price levels yesterday, the bears are attempting to push them lower again, with the price now at $9.92. The moving average value at present is $9.89 below the SMA 50 and the current price.

Volatility is dropping on the 4-hour chart, indicating that price oscillations are likely to remain modest. After more convergence, the top and lower boundaries of the Bollinger Bands indicator are $10.20 and $9.58, respectively. The RSI score has dropped to 47, which puts it in the lower part of the neutral range.

Aptos price analysis: Conclusion

The one-day and four-hour Aptos price analysis show a decreasing trend throughout the day as the price drifted lower. The price has fallen to $9.92, although the shortfall is not large because the coin is undergoing consolidation. We expect the coin to consolidate for a few more trading sessions.