Aptos is a blockchain itself alongside an organization developing technology Aptos Labs. In the mainnet of the network, the organization launched Aptos Autumn recently. When it comes to upgradeability, mainnet focuses on three primary principles, robust user experience, Move programming language, and intuition.
Aptos is a POS blockchain, so it uses a network of validators to verify and securely process transactions. The Aptos roadmap has been focused on launching Aptos Autumn, its main net this year which occurred in early Q4, 2022.
This institute announced a Google Cloud partnership earlier this year, which is a significant deal and also corresponds to developing Web3 technology as the latter company’s commitment. This partnership is ascertained by Google for now as running some of Aptos’s validator nodes.
It will be interesting to follow Aptos with the attention garnering of the likes of Google and its stress on developer usability.
Should you focus on Aptos Price Prediction today?
Let’s have a look at the complete Aptos (APT) Price Prediction from the APT/USD technical analysis.
Aptos (APT) Bulls Need To Overcome The 8.1640 High Volume Level
In the daily price, the APT/USD shows a selling pressure from its launch in major indexes, where investors showed additional attention to the intraday chart before investing here. Moreover, the broader crypto market is volatile as the recent bankruptcy of the FTX is yet to show its effect on the crypto market.
According to the fixed range high volume indicator, the highest trading volume in the APT price since the beginning is at the 8.1640 level. This price level is nearly at the opening price, which is a sign of extreme selling pressure from the beginning.
Based on the high volume price level, investors need additional confirmation to buy this instrument as it trades under the sellers’ territory.
The most recent price trades within a symmetrical triangle formation, where a bearish trend continuation opportunity could offer a high probability trading opportunity in the APT/USD daily chart.
The dynamic 20-day Exponential Moving Average is still above the price, working as an immediate resistance level. Moreover, the Relative Strength Index (RSI) shows a neutral momentum as it failed to reach the oversold 30% level.
Based on the daily Aptos Price Prediction, buyers need a strong breakout above the 20 DMA with a new high volume level below it. In that case, the upside price could extend the price towards the 10.28 resistance level with an 87% gain from the 5.410 critical level. However, the conservative buying approach is to wait for a bullish D1 candle above the 8.16 high volume level.
The alternative approach is to monitor how the price trades at the 3.50 key support level, as breaking below this level could be painful to bulls.
APT/USD Ichimoku Cloud Analysis
Ichimoku Cloud is a unique tool, which can provide a profitable trend trading opportunity besides understanding where the broader price is heading.
Based on the current H4 outlook of APT/USD price, the current price has been trading below the Kumo Cloud for a considerable time, which is a sign that sellers are dominating the market over bulls. In this context, any bearish opportunity could be profitable until there is a strong bullish recovery above the 5.4900 level.
In the future cloud, the Senkou Span A and B are closer together, which is a sign that bulls and bears are still indecisive about the future direction of this instrument. The MACD Histogram on the H4 chart, is still bullish, representing a possible bullish opportunity from the 5.4900 breakout point.
Based on the H4 APT Price Prediction, the broader outlook is bearish as it trades within a descending channel, below the Kumo Cloud. In that case, a new bearish H4 candle below the 3.77 level would be an alarming sign for bulls that may extend the loss toward the 1.00 key psychological level.
On the other hand, the swing high of 5.4900 is the untested level from 10 November. Therefore, the breakout above this level could bring some hope for bulls, where the primary aim is to test the 9.00 psychological level.
APT/USD Intraday Price Action Analysis
The hourly chart of APT/USD shows a buying pressure, which may invalidate the H4 bearish structure.
Based on the visible range high volume level, the highest trading volume in this pair is spotted at the 4.2699 level, which is below the current price. Moreover, the dynamic 20 EMA and weekly VWAP are closer to the price and working as support levels. Therefore, as long as the price trades above the weekly VWAP level, the primary H1 trading idea is to look for long opportunities.
The latest intraday high volume level is above the price, which needs to be overcome to provide a bullish opportunity. However, the safe buying approach is to wait for an H1 candle above the 4.8605 level, aiming for the 10.00 psychological level.
On the other hand, breaking below the 4.2699 level could alter the current market structure and lower the price towards the 3.0000 area.
Is APT/USD A Buy?
Based on the current APT Forecast, this pair is not a buy yet as bulls need to show their presence by forming a new high volume level below the price in the daily chart. In that case, investors need to wait for a solid breakout, before grabbing the 80% price surge to the 10.00 area.