Will APT Price Give Breakdown Or Breakout?

Aptos price analysis showcases a mild bearishness in the price on the daily technical chart. Despite the mild bearishness, the price is still trading above the key moving averages. It shows the buyers are still active on the lower side.

If APT price aims to break the $10 level, it needs an influx of buyers. However, the sellers are still trying to pull the price down by making short positions. They are failing in their attempts because of a strong presence of buyers.

The Aptos price forecast is bullish for 2024 and suggests a significant increase in the value is possible. It is staying above the 200-day EMA, which indicates it is still in an uptrend and in the recovery phase.

Aptos crypto’s price forecast supports the bulls and suggests the bulls will maintain their dominance and lead the rally.

The APT price managed to stay above the 200-day EMA. It indicates short-term bearishness and the positional trend is in the upward direction.

During the previous rally, APT crypto saw a huge spike in buying volume and the price followed an upward direction. It shows crypto whales have turned bullish and accumulated APT from the lower levels.

At present, the APT price is trying to break out of the $10 barrier. However, sellers are also active and trying their best to protect the supply zone. The Aptos crypto price has soared a lot in the last few weeks. So, it will be better if the price consolidates for some time before rising upward.

Currently, the APT price is trading at $8.90 with an increase of 1.37%. The 24-hour volume to market cap is 0.0318% and the price action shows that the bulls are active in the lower side.

Will Aptos Price Do Well in the Upcoming Sessions?

The Aptos price forecast for 2024 suggests that the crypto will trade above $10.00 and sustain higher levels. The previous rally in APT is supported by buyers, which shows long-term investors are confident in the APT crypto.

As long as the crypto price holds the current level, the buyers will remain active and absorb the minor sell-off. Therefore, the downside risk is limited and the price might continue to do well in upcoming months.

Conclusion

The Aptos price forecast is bullish for the upcoming month despite the mild weakness. The key indicators are also supporting the bullishness in the price. APT price analysis suggests that it is in an uptrend and may hit new swing highs in the coming months.

Technical Levels

Resistance levels: $10.98 and $11.00.

Support levels: $8.35 and $7.88.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.