Connect with us
Active Currencies 10088
Market Cap $1,189,332,604,519.38
Bitcoin Share 44.15%
24h Market Cap Change $1.04

Aptos [APT] slides to $10 psychological zone, watch out for this level

2min Read

Aptos [APT] dropped to a key confluence support area of $10, but selling pressure looms large. Can bulls inflict a recovery?

Aptos [APT] slides to $10 psychological zone, watch out for this level

Share this article

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Collection of top AI tools to use for different tasks.


  • APT was highly bearish at press time. 
  • More long positions wrecked in the past 24 hours. 

Aptos [APT] has dropped to a key lower boundary and psychological level of $10. The retest of the boundary has put sellers and buyers on edge as each struggle for control. So far, candlewicks have been hitting $10 – confirming the bulls’ interest in defending the support. 

Read Aptos [APT] Price Prediction 2023-24

 However, a bearish Bitcoin [BTC] and a break below $27k could offer sellers more leverage. The king coin’s price rejection at $30k has set altcoins in extended correction. If BTC retraces further, APT could inflict a bearish breakout and offer more shorting opportunities. 

A patterned breakout or rebound – Which way for APT?

Source: APT/USDT on TradingView

On the 12-hour charts, technical indicators – RSI and stochastic RSI, had hit oversold conditions. The oversold condition reinforces the prevailing bearish sentiment but also means sellers may take a break soon. 

If that’s the case, buyers could attempt to secure the $10 support. The channel’s lower boundary also lines up with the descending trendline and offers more resistance to sellers.

Ergo, buying at current levels could provide a good risk ratio if APT defends $10 and rallies to the upper channel’s boundary of $14. 

A bullish breakout could target the $18 price range. Alternatively, sellers could inflict a bearish breakout, invalidating the above thesis.

The breach could sink APT to $5.95 and could be accelerated if BTC falls below $27k. Notably, the OBV (On Balance Volume) dipped – evidence of limited trading volumes, which could favor sellers.

CVD spot declined

Source: Coinalyze

Is your portfolio green? Check APT Profit Calculator

According to Coinalyze, the aggregated CVD (Cumulative Volume Delta) spot declined, reiterating sellers’ increasing leverage in the market. In addition, out of about $930k total liquidations, over $700k worth of long positions have been wrecked in the past 24 hours. 

On the other hand, short positions saw only $200k worth of liquidations, indicating longs were paying shorts – confirming the prevailing bearish sentiment.

Although this offers sellers slight leverage, any BTC recovery could deflate bears’ hope. Ergo, investors should track BTC price action alongside sentiment before making moves. 


Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.