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Following the market-wide rally, most of the cryptos in the market recorded losses over the last 24 hours. One of the cryptos experiencing the same phenomenon is Aptos (APT). According to CoinMarketCap, the crypto is currently trading at $7.39 after a 7.79% drop in price over the last day.
Despite this, APT’s weekly performance is still looking rather good as the crypto is still up by more than 90% over the last week.
APT did, however, weaken against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH), by about 7.73% and 6.85% respectively. Also in the red zone is APT’s 24 hour trading volume which currently stands at $692,017,319b after a more than 35% decline since yesterday.
With its market cap of $953,585,265, APT is currently the 47th biggest crypto. This places it right behind MultiversX (EGLD) in the 46th position and in front of Tezos (XTZ) which is ranked 48th.
When looking at APT’s daily chart, we see that the 9-EMA (Exponential Moving Average) line has crossed above the 20-EMA line on January 9 of this year. This could be a bullish indicator for the price of the crypto and traders could look into entering a long position.
This bullish thesis will be invalidated if the price of APT is unable to close today’s trading session above its current resistance around $7.71, the crypto could be at risk of dropping to the support level at $5.55.
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