Despite a minor setback with the price dropping to $8.04, the positive momentum for Aptos (APT) has remained dominant over the past 24 hours. During the bull run, the APT price reached a 24-hour high of $8.37 before plummeting. As of the time of writing, the bullish momentum remains intact, resulting in a 2.72% increase to $8.34.
Amid the rally, APT’s market capitalization and 24-hour trading volume increased by 2.71% and 11.22% to $1,647,338,621 and $69,574,379, respectively.
If the bulls break the $8.37 barrier, the next resistance could be $8.50. However, if the bears take control, the $8.20 support could come into play.
The MACD line in the 2-hour price chart of APT/USD is moving towards the positive zone with a value of -0.00358814, which suggests that bulls are gathering strength.
This movement suggests that the APT/USD bullishness is likely to continue as buyers are gaining control. The histogram has entered the positive territory, indicating a greater likelihood of an uptrend, adding to the bullish sentiment.
The positive trend in the APT/USD market will continue, with the Chaikin Money Flow (CMF) rating at 0.05 and continuing to move higher. If the CMF rises further, it could mean further buying pressure, pushing the market further higher.
The 21-day moving average (white) is reading $8.17082294 and $8.45160448, which is below the 100-day moving average (blue). This movement suggests that the bullish sentiment on APT is losing momentum and a possible negative trend is brewing.
However, the price action has recovered from the 21-day EMA with a large number of green candlesticks, suggesting that there may still be some positive enthusiasm in the market.
All in all, despite the minor setback, Aptos is still showing signs of bullish strength and has the potential to rise further in the market.
