Aptos (APTUSD) Price Forecast: October 9
There is a possibility for the Aptos (APTUSD) price to face the positive side and swing above the mentioned resistance value despite the uncertainties in the market. This will be attained, if there is an interruption by buyers, the bullish correction pattern may increase the coin price to retest the $8.32 previous high which might possibly hit the $8.50 upper supply trend line and beyond.
Key Levels:
Resistance Levels: $7.00, $7.50, $8.00
Support Levels: $5.00, $4.00, $3.00
APTOS (USD) Long-term Trend: Bearish (Daily Chart)
Apto‘s price is in a bearish posture and also trades in a downtrend in its long-term outlook. The price bar can be seen trading below the EMA-50 which confirms its bearish trend. The market is now oversold, so we should expect the crypto price to swing above the supply level soon.
The high order flow from the sell traders at the $5.27 low value during yesterday’s session also added to its bearishness in its recent low.
Today, the bulls are trying hard to remain above the $7.98 supply mark, so there is a possibility for the coin price to pull back at the current support of $5.24 to invalidate the bearish theory.
Thus, the anticipated bullish reversal could kick-start a new recovery cycle and may push the price above the $8.32 price level.
Additionally, the APTUSD market which now trades around 20% in the oversold region of the daily signal implies that the selling pressure will end soon.
The bulls are expected to emerge and swing the price to the upside. Thus, the crypto price may swing above the $8.32 previous high soon to wade off the bearish thesis in its higher time frame.
APTOS (USD) Medium-term Trend: Bearish (4H Chart)
APTUSD is in a bearish trend market in its medium-term view. The coin prices can be seen traded below the moving average which confirms its bearishness. Meanwhile, it seems that the bulls are about to take over and swing above the supply level soon as we can see a bullish correction in place at the present.
The bears’ move to the $5.24 support value in the previous action has dropped the coin price below the supply trend lines in its recent low.
The bullish pressure moves the crypto’s price up to the $5.25 resistance level below the EMA as the 4-hour chart opens today. This suggests that buyers are coming in a grand style to dominate the market and sellers are getting weaker.
Hence, the Aptos market value might swing above the $5.82 previous high level if the current support level at $5.24 holds.
In addition to that, we have a bullish bias that the market value of APTUSD will rise further to the upsides as we can also see the momentum indicator pointing up at around level 17%, this means that the coin price may likely continue in an uptrend.
Currently, the crypto is making a correction; there may be a potential rise in the coin price which may swing above the $8.50 upper resistance value in the days ahead in its medium-term perspective.
Buy Aptos on eToro
Leave a Reply