Aptos (APT) price rally is facing selling near the overhead resistance at $10.50, suggesting that bears remain active at higher levels.
APT/USDT Daily Chart | Source: TradingView
Buyers will need to sustain the price above $9.50 to improve the prospects of a breakout above $10.50. If they do so, the APT/USDT pair could accelerate towards $14.50, where profit-taking could begin.
On the downside, if the price breaks below $9.50, the pair could drop to the 20-day EMA ($8.48). A strong bounce from the 20-day EMA could see another attempt to push the pair above $10.50, but a break below the 20-day EMA would signal that bears are trying to make a comeback.
APT/USDT 4-hour chart | Source: TradingView
The 4-hour chart shows that the bears are trying to defend the $10.50 level, but a small positive is that the bulls are not giving up much ground. This suggests that buyers expect the pair to move higher. A breakout and close above $10.50 could pave the way for a rally to $12.
Instead, if the price declines and breaks below the 20 EMA, it will indicate that the bulls have given up and are booking profits. That could send the pair down to the 50 SMA.
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