The Aptos Coin is a newly introduced token in the crypto world. Currently, Aptos is trading at US $9.15 with a gain of 5.55% during market hours. Crypto investors around the world have heavily criticized their lack of transparency regarding the tokenomics of this new layer-1 blockchain.
Due to this popular discontent, Altcoin dropped by 40% on its first trading day. Recently, the price action has gained stability. Experts have been closely observing key technical factors of this token to infer future trajectory.
The daily technical Aptos Coin chart has been exhibiting tendencies of a bullish trend. The chart has been observed to have a rounding bottom pattern. Over the years, experts have recorded this rounding bottom pattern to bring gradual improvement in market sentiment which induces the asset to sell for higher prices in near future.
The altcoin was struggling to pass the US $8.3 price mark. However, a four-hour time frame chart shows that the coin has given a massive breakout from this mark. Along with this, there has been a significant influx in the market activity volume. This indicates that investors thoroughly believe that this new token will eventually rack up higher prices.
During this breakout session of Altcoin, the highest recorded peak was at the US $9.27. For this peak, the prices had a sharp drop which tested the breached resistance of the coin. The Altcoin can drop down to another 6.7% before it gains traction once again.
If the Aptos coin can be consistent above this level, this will indicate that buyers have come to a consensus with the prices for this token. Experts predict that the Aptos coin will be facing a bullish trend again of the same distance. Hence, prices are predicted to peak as high as the US $9.63.
Many even claim that this may induce a third bullish trend making the prices hit the US $10 mark from the resistance at US $9.3. This has made the community believe that the Aptos coin may be a good asset to invest in for hedging.
