Aptos (APT) is one of the cryptocurrencies that recently experienced a drop in price following a market-wide rally. According to CoinMarketCap, APT is currently trading at $7.39, reflecting a 7.79% decrease over the last 24 hours. Despite this short-term decline, APT’s performance over the past week remains strong, with the crypto up by more than 90%.
However, APT did weaken against major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), with decreases of 7.73% and 6.85% respectively. Additionally, APT’s 24-hour trading volume has seen a significant decrease of over 35%, now standing at $692,017,319b. Despite these setbacks, APT still holds a market cap of $953,585,265, making it the 47th largest cryptocurrency in the market.
When analyzing APT’s daily chart, traders may notice a bullish signal as the 9-EMA line crossed above the 20-EMA line on January 9th. This could indicate a potential opportunity for traders to enter a long position. However, it is important to note that this bullish thesis would be invalidated if APT fails to close above its current resistance level of $7.71, potentially leading to a drop towards the support level at $5.55.
As with any investment decision, it is crucial for readers to conduct their own research and due diligence before making any moves in the cryptocurrency market. The information provided in this price analysis is intended for informational purposes only and should not be considered as financial advice. Readers are advised to proceed with caution and understand that any actions taken based on this analysis are done so at their own risk. Coin Edition and its affiliates will not be responsible for any direct or indirect losses incurred.
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