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Amid the ongoing consolidation in the crypto market, Aptos price shows the formation of a double-bottom pattern. This bullish reversal pattern is often spotted in the market bottoms and offers a strong entry opportunity. Currently, the altcoin shows a breakout attempt from $4.7, which will encourage a recovery rally to surpass the $5.48 neckline resistance.
Key points:
- The Aptos coin needs a $4.7breakout to obtain an additional dose of sustained recovery
- A bullish divergence in the RSI slope shows further growth potential
- The intraday trading volume in the Aptos is $895.5 Million, indicating a 52% gain.
Source- Tradingview
Amid the last week’s sell-off in the crypto market, the Aptos coin price plunged to the $3.78 mark. However, the altcoin went sideways after the downfall and retested $3.78 within a week. On November 14th, the price rebounded from the mentioned support with a 4-hour bullish engulfing candle, indicating the buyers are actively defending this level.
A bullish reversal has surged the Aptcoin coin price by 24.1%, and it currently trades at $4.68. Moreover, the rising volume during this price jump indicates a genuine recovery with a high possibility of breaking the local resistance of $4.7.
This potential breakout may offer additional footing for buyers to continue the recovery forward Thus, with sustained buying, the prices may rise 16.6% to hit $5.48.
Moreover, this recovery rally would near complete the formation of a double-bottom pattern. Furthermore, in response to the bullish pattern, the price would continue to the recovery march.
This development should raise the altcoin by 46.2% to reach $6.85.
Technical indicator
Relative Strength Index: the 4-hour chart RSI slope shows an evident bullish divergence bolstering the motives of bullish theory.
EMAs: the 50-day EMA moving at the $4.8 mark offers an additional barrier against the potential bullish recovery.
Aptos Price Intraday Levels
- Spot rate: $4.69
- Trend: Bullish
- Volatility: Low
- Resistance level- $4.7 and $5.4
- Support level- $3.78 and $3.5
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