Published 12 hours ago
Amid the ongoing consolidation in the crypto market, Aptos price shows the formation of a double-bottom pattern. This bullish reversal pattern is often spotted in the market bottoms and offers a strong entry opportunity. Currently, the altcoin shows a breakout attempt from $4.7, which will encourage a recovery rally to surpass the $5.48 neckline resistance.
Key points:
- The Aptos coin needs a $4.7breakout to obtain an additional dose of sustained recovery
- A bullish divergence in the RSI slope shows further growth potential
- The intraday trading volume in the Aptos is $895.5 Million, indicating a 52% gain.
Source- Tradingview
Amid the last week’s sell-off in the crypto market, the Aptos coin price plunged to the $3.78 mark. However, the altcoin went sideways after the downfall and retested $3.78 within a week. On November 14th, the price rebounded from the mentioned support with a 4-hour bullish engulfing candle, indicating the buyers are actively defending this level.
A bullish reversal has surged the Aptcoin coin price by 24.1%, and it currently trades at $4.68. Moreover, the rising volume during this price jump indicates a genuine recovery with a high possibility of breaking the local resistance of $4.7.
This potential breakout may offer additional footing for buyers to continue the recovery forward Thus, with sustained buying, the prices may rise 16.6% to hit $5.48.
Moreover, this recovery rally would near complete the formation of a double-bottom pattern. Furthermore, in response to the bullish pattern, the price would continue to the recovery march.
This development should raise the altcoin by 46.2% to reach $6.85.
Technical indicator
Relative Strength Index: the 4-hour chart RSI slope shows an evident bullish divergence bolstering the motives of bullish theory.
EMAs: the 50-day EMA moving at the $4.8 mark offers an additional barrier against the potential bullish recovery.
Aptos Price Intraday Levels
- Spot rate: $4.69
- Trend: Bullish
- Volatility: Low
- Resistance level- $4.7 and $5.4
- Support level- $3.78 and $3.5
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/emerging-bullish-pattern-may-push-aptosapt-price-to-6-68/