- Aptos (APT) maintains positive momentum despite minor setbacks.
- Bulls target the $8.50 resistance level in the APT price surge.
- APT/USD market shows a bullish trend, with potential for further gains.
Despite a minor setback that dropped the price to $8.04, Aptos’s (APT) positive momentum has remained in charge in the previous 24 hours. During the bull run, the APT price reached a 24-hour high of $8.37 before collapsing. As of this writing, bullish momentum remained intact, resulting in a 2.72 percent increase to $8.34.
During the rally, APT’s market capitalization and 24-hour trading volume increased by 2.71% and 11.22%, respectively, to $1,647,338,621 and $69,574,379.
If bulls break over the $8.37 barrier level, the next resistance level might be $8.50. However, if the bears seize control, the $8.20 support level may come into play.
APT/USD 24-hour price chart (source: CoinMarketCap)
The MACD line in the APT/USD 2-hour price chart is moving towards the positive area, with a value of -0.00358814, indicating that bulls are gaining strength.
This movement indicates the APT/USD bullishness may persist since buyers are gaining control. The histogram advances into a positive zone, indicating a more substantial possibility of an upward trend, adding to the bullishness.
The positive trend in the APT/USD market is set to continue, with a Chaikin Money Flow (CMF) rating of 0.05 and going higher. If the CMF rises further, it may imply further purchasing pressure, driving the market even higher.
APT/USD chart (source: TradingView)
With readings of $8.17082294 and $8.45160448, the 21-day moving average (white) falls below the 100-day moving average (blue). This movement shows that APT’s bullishness is losing steam, and a possible negative trend is brewing.
However, the price movement has recovered off the 21-day MA with massive green candlesticks, indicating that there may still be some positive enthusiasm in the market.
APT/USD chart (source: TradingView)
In conclusion, Aptos shows signs of bullish strength despite minor setbacks, with potential for further upward momentum in the market.
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