Aptos Price Prediction: The daily time frame chart shows the Aptos coin price has rallied a parabola recovery since the beginning of 2023. By the press time, the coin price traded at $17.8 and registered a 482% gain over the past four weeks. However, the price analysis justifies this growth with the repetitive formation of a bullish pattern called Flag. Here’s how this bullish continuation pattern could influence Aptos’s future price.
Key points:
- A bullish breakout from the flag pattern resistance trendline could hint at the resumption of price recovery
- On January 26th, the daily chart candle showed a high wick rejection at $20, indicating the sellers are aggressively defending this level.
- The intraday trading volume in Aptos is $1.25 Billion, indicating a 53% loss.
Aptos Price Prediction Shows Repetitive Formation Of Bullish Pattern
Source- Tradingview
This bullish continuations pattern displays itself with a strong bull run followed by a minor counter-trend correction to recuperate the bullish momentum. In theory, this minor pullback neutralizes the excess buying and refuels buying pressure for higher gains.
This month the Aptos price action has already formed this pattern twice, and the third one is in progress. Thus, this altcoin’s recent reversal from $20 psychological resistance has triggered the current pullback.
Also Read: CRYPTO TELEGRAM CHANNELS LIST 2023
If the buying pressure persists in the market, a bullish breakout from the pattern’s resistance trendline will offer buyers a suitable launchpad to prolong the price rally. In an ideal bullish scenario, the post-breakout rally could push the Aptos price to the $26 mark.
On a contrary note, the traders should be cautious at $20 as it could assist sellers in undermining the bullish thesis.
Moreover, a renounced crypto Enthusiast/Traders @LaCryptoLycus recently highlighted the strong bullish momentum in Aptos coin, which indicate more upside potential in the ongoing bull run.
Absolutely #APT smashed prices since it started to go parabolic.
Still there is more upside potential as @InSilvaNFT Kreachers reveal.
RSI in 4 hour chart still remains bullish and the chart shows there is a repeated trend that is following.#AptosNFTs #Aptos pic.twitter.com/qBZ48MUHu9
— LaCryptoLycus
Aptos blockchain remains a tough competitor for Solana, with a performance goal exceeding 100,000 transactions per second. The recent drop in SOL price due to its relation with the FTX crypto exchange cautioned several investors for this blockchain and gave an additional edge to Aptos.
However, despite the panic selling, the SOL price has recovered significantly and remains fundamentally strong. Moreover, it continues to carry out fast and cost-efficient transactions and will continue to rank as one of the top-performing layer 1 coin blockchains for the time being.
Technical Indicator
Relative Strength Index(4-hour): despite the price pullback, the RSI slope continues to stay above the midline, indicating the bullish sentiment among the market participants remains intact.
EMAs: the rising EMAs(20, 50, 100, and 200) could offer significant support during the occasional pullback in the Aptos coin.
Aptos Price Intraday Levels
- Spot rate: $18.09
- Trend: Bearish
- Volatility: Medium
- Resistance level- $20 and $26
- Support level- $14 and $11.6
The post Aptos Price Prediction: Is APT new Solana? Experts predict Buy or Sell appeared first on CoinGape.
Source: https://coingape.com/markets/aptos-price-prediction-is-apt-new-solana-experts-predict-buy-or-sell/