đ„ Aptos (APT) Nears Key Moving Averages Amid Buying Pressure
Aptos (APT) has seen a significant rise in demand over the past week, indicating a potential shift in market trends. This increase is reflected in the cryptocurrencyâs attempt to trade above its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA).
The bullish momentum suggests that APT may soon break through these key levels.
đž Aptos Bulls Fight For Dominance
At press time, Aptos (APT) is trading at $6, marking a 25% increase over the past seven days. The one-day chart shows APTâs price movements aligning with a potential breakthrough of its 20-day EMA, while it also appears set to test its 50-day SMA.
An assetâs 20-day EMA measures its average price over the past 20 trading days. Its 50-day SMA, on the other hand, calculates its average closing price over the past 50 days.
When an assetâs price rises above its 20-day EMA, it indicates the beginning of short-term bullish momentum. If the price approaches and surpasses the 50-day SMA, the uptrend may extend beyond the short term.
As of this writing, Aptosâ (APT) 20-day EMA is set at $6.04, with its 50-day SMA positioned at $6.45. To surpass its 20-day EMA, APT requires a 1% increase, while an 8% surge is necessary to break above the 50-day SMA.
đž Readings from Aptos (#APT ) Moving Average
Convergence/Divergence (MACD) indicate a strong likelihood of an upcoming rally. The MACD line (blue) recently crossed above the signal line (orange), suggesting that APTâs short-term momentum is outpacing its longer-term trend. This bullish crossover signals that APT may continue its upward trajectory as bullish sentiment strengthens, potentially allowing the coin to gain market control.
Further, the placement of the dots that make up APTâs Parabolic Stop and Reverse (SAR) indicator confirms the bullish bias toward the altcoin. At press time, these dots lie below APTâs price.
