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Cryptocurrency News Articles
Aptos (APT) Price Prediction: Can It Smash the $20 Mark Soon?
Oct 14, 2024 at 12:08 am
Since April, the Aptos (APT) price has witnessed intense selling pressure and has dropped to the $5 territory. Furthermore, it consolidated for 3 months
Aptos (APT) price has witnessed immense selling pressure since April, leading to a drop to the $5 territory. Following a consolidation period of 3 months, the RSI has displayed pushes.
Aptos price has experienced a bullish spark, surging by more than 60%. The price has smashed key moving averages, indicating a potential for a bullish forecast.
The APT crypto price took support at the $5 level and encountered buying pressure. It has risen notably after taking support. The price has triggered a pullback after taking support on the 200-day EMA. Let’s find out how it performs after the pullback.
Can Aptos Price Smash $20 Mark Soon?
Mags (@thescalpingpro), a cryptocurrency analyst, shared his analysis on the X platform, where he expressed his belief that the Aptos price could gain 100% in a few months.
$APT is forming a nice double bottom expecting continuation till neckline – $20 pic.twitter.com/06yhE5mVMr
According to the technical chart, the Aptos price was forming a double-bottom pattern on a weekly time frame. It is expected to reach the $20 mark.
Technical Analysis of Aptos Price Over 1-D Timeframe
At the time of 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 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.
On a wider time frame, the APT crypto price has tested the $20 mark twice. 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. Moreover, 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 a bullish forecast.
Aptos Price Analysis and Forecast
The Aptos price has experienced a significant surge, presenting the potential for further gains. The golden crossover between the 20-day and 200-day EMAs has indicated a positive trend.
The price has shown resilience around the $5 level, triggering bullish momentum and 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 reaching positive territory and displaying a bullish crossover with the Signal line supports the potential for bullish momentum.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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