Aptos (APT), currently trading at $7.57, has experienced price fluctuations over the past 24 hours, with a recent dip of $4.30. The market closely monitors whether the asset can break free from its current consolidation phase. There is also a potential target of $16.5 if it reaches higher price levels.
The next few days will be crucial in determining whether Aptos can stage a recovery. The market will respond to various technical patterns and trading volume to decide if the downward trend continues.
One of the key patterns influencing Aptos’ price movement is the symmetrical triangle. This chart pattern occurs when converging trendlines define the upper and lower limits of price action.
The price has been trading between $8.50 and $17, and as the pattern narrows, traders are keenly watching for a breakout. If Aptos can break above the upper trendline, the price could target $18 or higher, depending on the momentum.
Despite the price decline, trading volume has increased by 8.55% over the past 24 hours, reaching $253.31 million. This suggests a heightened market participation level, even during this consolidation phase. Rising trading volume can indicate active short-term traders capitalizing on volatility, which could increase buying interest if the price begins to climb again.
Market outlook: Key levels to watch
For traders, the next critical support level for Aptos is $7.21, with resistance at $8.24. If buying momentum picks up, a bounce from the lower Bollinger Band could push the price toward the $7.72 to $8.00 range. However, the question remains: Can Aptos break through the resistance levels and target $16.5 in the longer term?
While the immediate outlook seems bearish, the potential for a breakout remains viable if market conditions change. Traders should watch closely for confirmation from the chart patterns and volume indicators in the coming days.
MACD and Bollinger Bands signal caution in the short-term
A closer look at Aptos’ technical indicators reveals a bearish trend. The MACD (Moving Average Convergence Divergence) shows that the MACD line remains below the signal line, with negative histogram bars suggesting continued selling pressure. However, the histogram’s gradual shrinkage may indicate that the bearish momentum is weakening.
Aptos price approaches $7.21 as the Bollinger Bands indicate that the value is being over sold. There’s a possibility the asset may receive a defensive barrier at this point that might stimulate a rebound in the market. Resistance level is at $8.24 and a cross above it can be seen as a signal for a bullish price move.
