A Bearish Flag Looms Above APTOS Price: What To Expect Next?- APT is currently at $15.18, with a loss of 7.78% for the week, at the time of writing.
- The price of the token is fluctuating below the 200 EMA.
- The expected bearish price for APT is $12.9973.
The emerging cryptocurrency Aptos has attracted attention with its cutting-edge technology and optimistic outlook. Despite this, Aptos has noticed a downward trend over the past week, with a 7.78% drop in its market capitalization.
Hourly technical analysis for APT/USDT (Source: TradingView)
Despite prolonged efforts to maintain its position above the 200-day moving average (MA), the APT/USDT trading pair finally succumbed to bearish pressure, as it fell below the crucial moving average level. The above-hourly technical analysis for APT/USDT is revealing a bearish trend, which indicates more bearish movement in the near future.
Currently, APT is trading inside a bearish flag. Aptos price may witness a temporary increase, as it reaches the pennant’s upper trend line, before witnessing a possible decline to the current one-hour support at $12.9973, and possibly breaking the current low at $14.3187.
An alternate scenario suggests that if Aptos encounters a directional reversal from its trajectory…
Post-Down Flag Looms Above APTOS Price: What To Expect Next? It first appeared in Coin Edition.
