Will Aptos (APT), one of the most popular layer-1 blockchains of recent times, rise again?
APT, which lost blood in the week when Bitcoin (BTC) experienced a major decline, fell below $ 8. APT price dropped to $7.9 the other day.
AMBCrypto emphasized that APT price is testing a critical support level at $8.09 and that the said support level is critical. Whether the popular altcoin will trend upwards will depend on the appetite of the bulls.
Aptos (APT) analysis
“What direction will Aptos make its next big move?” In the analysis titled, the progress of the layer-1 project with Move infrastructure was evaluated.
The analysis emphasized that APT investors sold aggressively and the selling pressure continued to increase. Although APT showed signs of recovery after falling to $7.9, it has not yet gained strength. Crypto analysts emphasized that many altcoins, especially APT, were affected by the uncertainty in BTC.
AMBCrypto recorded the following words for APT;
“APT is at a key point on the chart. The critical point in question was determined as $ 8.09. Generally, a support level will attract enough buying pressure to trigger a price recovery, but this is not always guaranteed. In case of a bounce from this level, the price could move back to a nearby supply zone.“
The analysis stated that if APT continues its downward trend, it may drop to $7.23. If the popular altcoin loses the support level in question, it may drop to $6.42. According to the chart analysis prepared by AMBCrypto, the last castle in APT will be the $ 5.77 support.
In case of a possible rise, a break of $8.22 will be expected. A potential breakout could move APT into the supply zone at $9.50.
Commenting on APT’s net flow on the exchanges, AMBCrypto said, “Confidence has decreased.” he commented. The analysis warned investors to be cautious.
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