Since April, the Aptos (APT) price has witnessed intense selling pressure and has dropped to the $5 territory. Furthermore, it consolidated for 3 months, and the RSI has displayed pushes.
Aptos price has gained a bullish spark and risen by more than 60%. The price has smashed the key moving averages, which could be a bullish forecast.
The APT crypto price has taken support on the $5 level and witnessed buying pressure. It has risen by taking support. The price has triggered a pullback by taking support on the 200-day EMA. Let’s find out how it performs after the pullback.
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Can Aptos Price Smash $20 Mark Soon?
Mags (@thescalpingpro), a cryptocurrency analyst, shared his analysis on the X platform. He claimed the Aptos price could gain 100% in a few months.
The Aptos price was forming a double-bottom pattern on a weekly time frame. It is expected to reach the $20 mark per the technical chart.
Technical Analysis of Aptos Price Over 1-D Timeframe
When writing, the APT crypto was trading at $10.22. It has risen by 2.82% over the past 24 hours. The market capitalization was $5.27 Billion, and the 24-hour trading volume was $542.22 Million.
The price has reached the crucial zone of $10, and the RSI is wandering in the overbought zone. If the price forms a bearish candlestick, it could trigger a bearish momentum.
Once the price starts trading below the 200-day EMA, sellers may dominate. Here, small players might try to book profit, which could affect the price negatively.
The APT crypto price has twice tested the $20 mark on a wider time frame. However, the price has generated bullish momentum at the bottom as it did previously.
Buying momentum can be developed if the price overcomes the $10 mark. A strong buying wave can be seen if the chart structure attracts investors. Also, the Aptos price may extend to the $20 mark.
Based on the technical indicators, the MACD has reached positive territory. It triggered a bullish crossover with the Signal line. Additionally, it has displayed extra pushes that could invite buyers. The price smashed the key moving averages, which could be bullish.
Aptos Price Analysis and Forecast
Aptos price has experienced a significant surge, with the potential for further gains. The golden crossover between the 20-day and 200-day EMAs indicated a positive trend.
The price has shown resilience around the $5 level. It has triggered a bullish momentum, breaking key moving averages.
However, caution is advised as the price has reached the crucial zone of $10, and the RSI is overbought. A bearish candlestick could trigger negative momentum, and sellers may take control if the price falls below the 200-day EMA.
Conversely, if the price surpasses the $10 mark and attracts investors, a strong buying wave could lead toward the $20 mark. The MACD reached positive territory and displayed a bullish crossover with the Signal line. Furthermore, it supports the potential for bullish momentum.
