Aptos [APT] recovery at stake – can bulls clear $16.3615 hurdle?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. APT’s momentum waned. Several obstacles blocked the bulls’ leverage. Aptos [APT] flashed green for the better part of January 2023, but 1 – 8 February was unsettling, as APT shrunk by 7%. Compared to […]

flashed green for the better part of January 2023, but 1 – 8 February was unsettling, as APT shrunk by 7%. Compared to its January rally, APT posted over 300% gains after rising from $3.4 to $20.At press time, APT secured a support level but faced price rejection at a crucial resistance level. The recovery could continue if the support holds in the next few hours/days.APT’s 350% performance faced an initial hurdle at the $20.2745 level. Afterwards, several price rejections at $18.

The Relative Strength Index was neutral, while the Money Flow Index indicated a short-term accumulation trend. If demand for APT increases, bulls could break above the $16.3615 hurdle and target the bearish order block at $18.4285. Notably, APT’s trading volume and RSI have dropped significantly since mid-January, lending credence to a continued fall.

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