- Aptos price defended $5.50 support and showed a minor bounce.
- APT price is trying to climb above the descending channel pattern.
Aptos price fell 26.06% last month and tested the previous $5.50 low. However, the buyers of APT succeeded in defending the $5.50 support and showcased a minor recovery. It indicates that bulls are getting active and trying their best to reverse the APT price trend in an upward direction.
Presently, Aptos price seems to be stuck in a descending pattern. The APT crypto price has formed a strong base near $5.50 so downside risk seems low. However, the price is still trading below the 50-day and 200-day EMA.
In December 2024, Aptos price hit a high of $15.37. However, bulls can’t maintain the bullish momentum, and the price halts down from there. It triggered a negative sentiment and resulted in panic selling in the crypto price.
According to CoinMarketCap data, currently, Aptos price is trading at $6.32 with an intraday rise of 13.42%. The 24-hour volume to market cap is 6.74%. The market cap stands at $3.7 billion and the community sentiment is 76% bullish.
Will Aptos Price Give Follow-Up Momentum?
APT price lost the bullish momentum after breaking below 50 EMA curve and prices entered into a correction phase. Later, prices declined for a few days and tested the lower range of $5.50. However, the buyers were active near the lower and managed to push the prices to the upper resistance band.
If in the coming weeks, Aptos price succeeds in breaking above the 50-day and 200-day EMA then recovery is likely to continue. The RSI also showed a spike on the technical charts showing short-term bullishness in price.
The technical analysis indicates APT price is bullish in the short term. However, the probability of reaching $10 still remains low because of strong resistance at higher levels. Resistance levels for Aptos are $7.56 and $8.86 and the support levels are $5.50 and $5.00.
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Source: https://thenewscrypto.com/aptos-price-analysis-will-apt-price-break-above-10-mark/