📊 Aptos Price On Road To Recovery: Is $6 A Turning Point?

Aptos (#APT ) price broke down the declining trendline mark of $6.30 in the middle of August. It unsuccessfully attempted to cross the 100-day EMA barrier near the $7 mark this week.

Later, the token witnessed a strong bearish pressure. It revisited the trendline region, close to the $6 mark, and fell below key EMAs.

🔸 Aptos Price Fails to Cross $7 Mark: Are Bulls Trapped?

Aptos crypto was rejected by the 100-day EMA barrier on August 28 and triggered a fall. Notably, the token has retraced by over 20% and reached the $6 mark.

The momentum indicator, the Relative Strength Index (RSI), provides a bearish outlook. Its reading is noted below 50, suggesting that bears have an advantage. A negative crossover was witnessed, implying a significant selloff on the chart.

Aptos price, at press time, traded at $6.16, down over 2.30% with a trading volume drop of over 8.20% in the last 24 hours. It boasts a market cap of $2.98 Billion and has a circulating supply of 486.23 Million.

Since the $6 level is a support zone and a trendline zone, where the token has been consolidating for the last three sessions, it will be deciding zone to determine the upcoming price movements in Aptos price.

In a recent tweet by @venturecharts, he pointed out that Aptos price has met with rejection from the resistance barrier of $7 and is ready for a multi-directional move.

💬 Another hated update, but for those who trade both directions, then you're welcome. — venture

Whether the Aptos price breaks below or sees a bounce will lead to a significant shift in direction. That said, indecisiveness between the bulls and bears is apparent.

The weighted sentiment data reflects a significant spike, and its value rose above the zero line, which was noted at 0.315. It indicates that the investors are looking for a surge and started making longs.