APT,thenativetokenofLayer-1blockchainAptos,hasrisenby2%overthepast24hours.However,areviewoftheone-daychartsuggeststhattheAptospricerallymerelymirrorstheuptickinthebroadercryptocurrencymarketduringthatperiod.
Despitetherecentuptick,APTfacesastrongbearishbias,whichcoulderasethesegainssoon.ThisanalysisexploresthefactorscontributingtothepersistentbearishoutlookforAPT.
AptosClimbs,ButThereIsaCatch
Overthepastweek,APT’spricehasdroppedby8%.Thisdeclinehaspushedthecoin’svaluebelowits20-dayexponentialmovingaverage(EMA)and50-daysmallmovingaverage(SMA).The20-dayEMAmeasuresanasset’saveragepriceoverthepast20tradingdays,whileits50-daySMAtracksitspriceoverthepast50tradingdays.
Whenanasset’spricedipsbelowkeymovingaverages,itindicatesanegativemomentumshift.Adropbelowthe20-dayEMAsuggestsashort-termbearishtrend,pointingtoweakeningrecentpriceaction.Incontrast,fallingbelowthe50-daySMAisastrongersignalofapotentiallonger-termtrendreversal,implyingthatupwardmomentummaybefading.
APT20-DayEMA/50-DaySMA.Source:TradingView
ThesetupofAPT’smovingaverageconvergence/divergence(MACD)reinforcesthebearishoutlook.Currently,theMACDline(blue)ispositionedbelowboththesignalline(orange)andthezeroline.
Asanindicatorofpricetrendsandmomentum,theMACDhelpsidentifypotentialbuyorsellsignals.Thisalignmentindicatesastrongbearishtrend,suggestingthatoverallmomentumisnegativeandconfirmingthatAPTisinadowntrend.
APTMACD.Source:TradingView
APTPricePrediction:ChartingthePathto$10.07
Atpresstime,APTistradingat$8.27,holdingjustaboveasupportlevelat$7.87.Ifbuyingpressureweakens,thepricemaytestthissupport,andfailuretoholdcouldseeAPTplungefurtherto$5.66,whereitmightseektoestablishanewsupportbase.
APTPriceAnalysis.Source:TradingView
ThisbearishoutlookwouldbeinvalidatedifAPT’spricerallygainsstrength,drivenbyreneweddemand.Inthiscase,APTwouldlikelybounceoffthe$7.87supportandaimtoclimbabovethe$10.07level.
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