Aptos (APT) price is up around 15% in the past 24 hours, recovering strongly after its market cap dropped by $2 billion before $134 million worth of tokens were opened. Despite recent bearish signals, such as a death cross formation and a 10% price drop, APT is showing signs of a potential trend reversal.
Indicators like the Ichimoku cloud and EMA lines suggest that the bullish momentum could push APT to test levels near $15 if the uptrend continues. However, the key support at $13.38 remains crucial; a break below this level could lead to a deeper correction.
Aptos bullish trend exceeds bearish indicators
Aptos The DMI chart shows ADX at 32.96, down from 42 yesterday, indicating a weakening trend strength. This decline is followed by a strong correction, indicating that the previous trend is losing momentum.
Despite the decline in ADX, the indicator remains above the 25 threshold, indicating that the trend is still moderately strong, albeit less dominant than before.
ADX, or Average Directional Index, measures the strength of a trend regardless of direction. Values below 20 indicate a weak or non-existent trend, while readings above 25 indicate a stronger trend.
After correcting the past few days, D+ has crossed above D-, with D+ currently at 29.7 and D- at 23.1. This crossover signals a potential shift towards bullish momentum, suggesting that APT could see a short-term recovery if buying pressure persists.
APT's Ichimoku Cloud Shows Strong Uptrend
Aptos’ Ichimoku Cloud chart shows the price trading slightly above the cloud, indicating a bullish bias. The green cloud ahead indicates potential support, while the relatively flat top of the cloud suggests that resistance near $14 could be significant.
The Tenkan-sen (blue line) and Kijun-sen (red line) lines are converging, indicating a consolidation phase or a potential slowdown in the bullish momentum.
If the price manages to stay above the cloud and cross the Tenkan-sen line above the Kijun-sen again, it could indicate renewed bullish momentum with potential upside targets near $14.5 or higher.
However, if APT price drops back into the cloud, it could signal indecision, with support levels near $12.5. A break below the cloud would turn the bias bearish, opening the door for a retest of lower levels.
Aptos Price Prediction: Back to $15 Soon?
Aptos (APT) price is up around 15% in the past 24 hours, recovering strongly after its market cap dropped by $2 billion before $134 million worth of tokens were opened. Despite recent bearish signals, such as a death cross formation and a 10% price drop, APT is showing signs of a potential trend reversal.
This was followed by a price drop of more than 10%, in line with the bearish crossover indications. The death cross showed selling pressure, which briefly dominated the price action of Aptos.
However, Aptos has since started to recover, and now the short-term EMA is closer to crossing above the other EMA lines, which could form a bullish crossover. If that happens, it could spark a strong upside move, with price targets at $14.88 or even $15.34.
Conversely, if APT price fails to maintain its current momentum and loses the support at $13.38, it may face another decline, which could lead to a drop to $12.3.
