- APT is currently trading hands at 18.71 after a 37.29% price increase.
- Technical indicators that suggest that things might go south for APT.
- Bearish divergence on APT’s chart indicates a decrease in momentum.
Aptos (APT) surprised investors in the best way possible after a triple-digit increase in price over the last week. According to CoinMarketCap, APT is currently trading hands at $18.71 after a 37.29% price increase over the last day. The crypto was also able to reach a high of $19.36 and a low of $13.46 over the same time period.
APT’s weekly performance is what is catching everyone’s attention as the crypto is in the green by more than 133% over the last seven days. The altcoin was also able to strengthen against Bitcoin (BTC) and Ethereum (ETH) by about 35.35% and 32.66% respectively over the last day.
Also in the green zone is APT’s 24-hour trading volume which currently stands at $2,860,360,613 after a more than 168% increase since yesterday.
Unfortunately, there are two bearish technical indicators that suggest that things might go south for APT very soon. The first thing traders need to take note of is the Relative Strength Index (RSI). APT’s price produced higher highs on both January 21 and 25, but the RSI produced lower highs. This is known as bearish divergence, and could indicate declining momentum for APT.
This waning momentum could lead the price of APT to drop as low as $16.43 or even $15.53.
In addition to this, APT’s local top formation is also confirmed by its 30-day MVRV, which formed a peak at 19.50%. There has also been a significant sell-off that happened in APT after the MVRV entered the 17% to 32% zone.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
