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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. A move downward to $12.15 was a likelihood for Aptos. The bias would remain bullish until a key support level was broken. Aptos [APT] saw a strong move upward push on heavy trading volume […]
itself sat atop some support around the $23k area. However, the king of crypto was pointed downward, although another move up to $24k was also possible. This meant that both buyers and sellers in the near term could wait for a retest of a significant area before entering trades.Source: APT/USDT on TradingView
The bounce in prices from $11.8 to $13 was quick. APT gained nearly 12% within 20 hours. However, Aptos sellers forced a near-term rejection in the $13.7 area, and the token stood at $13.13 at press time. Due to the break in structure, further near-term losses could follow. This was because, after a strong surge, the price can see a retracement to fill any imbalances on the chart.
Aptos had a fair value gap on the four-hour chart that extended from $12.15 to $12.5. Therefore, the price could get pushed toward this area in the coming days. That would not be a bearish scenario, as the prices would continue to have a bullish structure. This upward bias will be invalidated if the price fell beneath the $12.15 level. The Awesome Oscillator also showed bullish momentum after crossing above the zero line. However, the CMF continued to move in the neutral region.
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