Despite what APT holders had hoped, the value of Aptos (APT) did not exit a medium-term bullish chart pattern in the manner they had anticipated. Instead of the altcoin’s value exploding upward, it entered a bearish phase that lasted for several weeks, during which time it progressively declined. Due to the ongoing value decline over the past few weeks, APT’s value could fall as low as $3.20.
Over the preceding few weeks, APT’s value broke out of a bullish falling wedge chart sample. It then had a brief period of consolidation before starting to steadily lose value over the following two weeks. As a result, the altcoin’s value decreased below the crucial $5.40 support level, where it was still trading at the time of publication. As a result, APT was open to going back to the crucial $3.20 aid stage.
If APT is prepared to close a daily candle above the recently broken $5.40 level, this bearish thesis may also be disproven. After then, a transfer that would increase the cryptocurrency’s value to $8 may be sparked by ongoing purchasing assistance. In an overly bullish scenario, APT’s value may also continue to grow above $10.
The combined mood on the daily chart for APT will need to be taken into consideration by buyers and merchants. On the one hand, at the time of publication, the MACD line was placed bullishly above the MACD Sign line. Meanwhile, the daily RSI was below 45, indicating a bearish trend. However, as of the time of publication, the overall trend on APT’s charts was bearish.
APT had been in a good sequence during the preceding 24 hours from a shorter time-frame perspective because it consistently produced higher lows on the 4-hour chart during this period. Therefore, if this positive momentum persists, the altcoin’s value may have the support needed to surpass the $5.4 barrier during the next 24 hours.
In contrast, if APT fails to close a 4-hour candle above $5.40 over the course of the next 48 hours, it may continue the long-term negative pattern that has dogged its charts for the past few months. The altcoin’s value could drop to the previously mentioned $3.20 level under this scenario.