Aptos (APT) Price Shows Restraint as Bearish Activity Takes Hold

The latest Aptos price (APT) analysis shows negative market sentiment as bearish activity gains traction. At the time of writing, Aptos is trading at $11.40, down by -1.92% in the last 24 hours. The bearish trend is being supported by high selling pressure and low buying volume as more sellers enter the market.

APT/USD daily chart: CoinMarketCap

The bearish trend is strong, and if the bearish trend continues further, the next level of support may be seen at 10.90 USD. The current levels of resistance for APT are present at 11.69 USD, and a break above this level can shift the price action toward $12.00, which can be considered a strong resistance level if bullish sentiment takes over.

In the past few days, bullish activity was seen in the market and pushed the token price above the $11.50 resistance point, with more buying pressure pushing prices even higher. However, the bearish activity is now gaining traction, and this could lead to a further decline below the $11 support level. The market opened trading in the bearish territory today at $11.50, and the price has now fallen to $11.40, with more selling pressure likely in the coming days.

The market capitalization for Aptos currently stands at $2.01 billion, with a decrease of -2.22% in the last 24 hours. The 24-hour trading volume is over $231 million and has seen a decrease of -63.49%, indicating that the sell-off has intensified. The circulating supply of Aptos is 177 million tokens, and the market dominance is at 0.09 percent.

The 24-hour technical indicators display bearish momentum for the Aptos market. The MACD is trading below the zero line and is showing a bearish crossover, indicating more selling pressure in the coming days. Similarly, the RSI has moved into the neutral region and is currently at 46.00, suggesting further downward momentum in APT’s price action.

APT/USD 1-day price chart: TradingView

The volatility is low in the Aptos market, and this can impact the price action. The Bollinger bands have converged, and this indicates that the price is likely to experience a breakout soon. The upper Bollinger band is currently at $13.58, and the lower is at $10.54, which suggests that the market may soon break out of this range.

Overall, Aptos is facing bearish activity in today’s market, with more selling pressure likely to be seen in the coming days. The selling pressure could lead to a further decline in the token’s price, and traders are advised to exercise caution when entering into new positions. The bulls need to take back control of the market by pushing prices above the $11.50 mark in order to counter the bearish trend.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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