Analysts Anticipate A Major Movement In APT Price; Can It Grow 3x?

• 1 The RSI shows a minor tilt upward that hints at the possibility of the RSI curve taking a U-turn in the coming sessions.
• 2 A tweet anticipates that the Aptos (APT) could attain a major pullback from this current price point.
• 3 Its Indicators are presenting bearish signals due to a lack of liquidity, and the major trend was bearish.

Aptos (APT) ranks 27th among the top 100 cryptos on the CoinMarketCap website in terms of Market cap (at press time). It has a market value of $3.126 Billion, and its trading volume amounts to $158.282 Million. The volume-to-market cap ratio is 5.08%, highlighting weak liquidity, often signifying less stable market charts. 

Meanwhile, its circulating supply is at 451.403 million APT. Its circulating token supply is nearly 40% of the total supply of 1.101 billion APT. 

APT/USD 1.W. Price chart | Source: TradingView

A recent daily chart shows weak momentum at the crucial support level on the chart. Yet, the price appears bullish in the weekly chart and could achieve a spike based on the bulls and liquidity increases.

Decoding Price Patterns In Aptos (APT)!

According to @The Crypto Titan’s optimistic tweet post on the X platform, the Aptos price has been trading above the crucial trendline support for the weekly timeframe. The crypto titan’s tweet further stated that he anticipates that the Aptos could attain a major pullback from this price point. He further hints for traders and investors by highlighting that it looks like a good time to accumulate Aptos (APT) right now, as it is available at a much cheaper rate.

On the daily chart, The Aptos exhibited a significant price movement. Starting from a demand level of $4.75 in mid-October 2023, APT displayed a substantial rally. It eventually reached $19.50 by March 26th, breaking through the resistance level of $10.50 (a barrier tested several times previously).

However, the peak point at $19.50 proved unsustainable, and the price began to decline on March 27th, establishing a new support level at $6.50 by June 18th, where an ascending trendline support was also present.

Aptos (APT) Price Forecast!

At press time, the APT price traded at $6.96 with an intraday gain of 0.72%.

If the APT price manages to increase successfully from the current level and knocks out the dynamic resistance in the course, the nearest targets would be $8.00 and $10.0.

On the contrary, If the APT price fails to manage the current support level of $6.50, it could reach the $5.75 and $4.75 price mark.

What Do Aptos (APT) Indicators Highlights?

Its indicators present bearish signals due to a lack of liquidity, and the major trend is bearish, as the MACD has formed a bearish crossover with the histogram at -0.13, which is close to the zero line. The price is below the 50-day and 200-day EMAs, and the RSI at 31.96 shows a minor tilt upward that shows the possibility of the RSI curve taking a U-turn from oversold to the overbought zone.

These technical indicators in Aptos suggest a bearish angle, but a minor tilt upwards in RSI signifies some bullishness. As per the price action, the price is at a crucial level, and one massive liquidity candle could also initiate an up move that could surpass the dynamic resistance. So, the current bearish signal could be false due to a lack of moment in price, and bullishness could prevail.

Summary

Aptos (APT) has weak liquidity with a volume-to-market cap ratio of 5.08%. The price has shown bullish and bearish signals, keeping the view uncertain. But, with the potential targets of $8.00 and $10.0, the price could increase if buyers’ interest increases. 

Support is at $5.75 and $4.75 if it fails to hold current support of $6.50. Technical indicators suggest a bearish trend, but RSI shows some bullishness, and analysts anticipate a major pullback could come.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Nancy J. Allen

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.