Aptos Price Prediction: The daily time frame chart shows the Aptos coin price has rallied a parabola recovery since the beginning of 2023. By the press time, the coin price traded at $17.8 and registered a 482% gain over the past four weeks. However, the price analysis justifies this growth with the repetitive formation of a bullish pattern called Flag. Here’s how this bullish continuation pattern could influence Aptos’s future price.
This bullish continuations pattern displays itself with a strong bull run followed by a minor counter-trend correction to recuperate the bullish momentum. In theory, this minor pullback neutralizes the excess buying and refuels buying pressure for higher gains.
This month the Aptos price action has already formed this pattern twice, and the third one is in progress. Thus, this altcoin’s recent reversal from $20 psychological resistance has triggered the current pullback.
Also Read: CRYPTO TELEGRAM CHANNELS LIST 2023
If the buying pressure persists in the market, a bullish breakout from the pattern’s resistance trendline will offer buyers a suitable launchpad to prolong the price rally. In an ideal bullish scenario, the post-breakout rally could push the Aptos price to the $26 mark.
On a contrary note, the traders should be cautious at $20 as it could assist sellers in undermining the bullish thesis.
Moreover, a renounced crypto Enthusiast/Traders @LaCryptoLycus recently highlighted the strong bullish momentum in Aptos coin, which indicate more upside potential in the ongoing bull run.
Aptos blockchain remains a tough competitor for Solana, with a performance goal exceeding 100,000 transactions per second. The recent drop in SOL price due to its relation with the FTX crypto exchange cautioned several investors for this blockchain and gave an additional edge to Aptos.
However, despite the panic selling, the SOL price has recovered significantly and remains fundamentally strong. Moreover, it continues to carry out fast and cost-efficient transactions and will continue to rank as one of the top-performing layer 1 coin blockchains for the time being.
Relative Strength Index(4-hour): despite the price pullback, the RSI slope continues to stay above the midline, indicating the bullish sentiment among the market participants remains intact.
EMAs: the rising EMAs(20, 50, 100, and 200) could offer significant support during the occasional pullback in the Aptos coin.
Floki price has drawn strong attention after recording a bullish daily surge of over 30%.…
BNB Coin price has entered a powerful phase after breaking through a major resistance level…
Aster price has recently shown strong signals on the chart, with a breakout from its…
XRP price could be on the cusp of a big move in the coming weeks…
Bitcoin price has recently surged to the $120K mark, reclaiming momentum and sparking fresh optimism…
Pi Network price has crashed by over 90% from its highest level since its mainnet…