Fri, April 19, 2024

Here Is Why APT Has Dropped 27.98% In Only 10 Days

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Recent APT price research reveals that the price has been moving downward inside a channel.

Within ten days, APT lost 27.98% of its value. The innovative coin’s support level is $6.89, while its resistance level is $8.51.

APTOS is currently trading at $7.49, down 4.61% from its previous day’s closing price. Moreover, this price movement may also be influenced by the 4.7% decline in market capitalization to $973,963,667.37. Since October 23, 2022, APTOS has been trading inside a declining channel on the 1-Hour chart. The chart shows that APTOS has repeatedly struck the upper trendline but hasn’t yet left the declining channel. Due to the lowering channel’s structure, the price of APTOS dropped after contacting it.

What Do Technical Graphs Tell Us?

The APTOS price chart above shows that the market is moving toward the lower upper band, and the Bollinger Bands are contracting, indicating that negative momentum is intensifying. Peaks of the upper and lower bands cross at 7.5531 and 7.1857.

The signal line is above the MACD blue line, which is now moving higher. The MACD line reaches -0.0483 while the signal line contacts -0.0926. The histogram’s reading in the positive region supports this optimistic view in the APTOS. The current strong 1-hour resistance is between $8.51 and $8.2, while the current support ranges from $7.14 to $6.89.

APTOS has an RSI score of 67.93. An RSI reading above 50 indicates that APTOS is being purchased rather than sold. Unexpectedly, APTOS has attracted investors’ attention since it initially floated on many markets. Another justification is that it may be used to buy NFTs.

Finally, given that APTOS is trading below the 50-day moving average and has been unable to break above it, the stock may still be in a negative trend. Investors might anticipate APTOS to hit $10 in a few days if it can surge over the 50-day MA.

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