Aptos

Strong

<ul class="wp-block-list">
 <li>APT dropped 6.61% in 24 hours, raising concerns about its future.</li>  
 <li>Key support level at $8.09 may determine APT's potential for recovery or further decline.</li>  
 <li>Positive Exchange Netflow indicates rising selling pressure, signaling a bearish sentiment among traders.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/aptos-apt-price-prediction/" rel="noopener noreferrer nofollow">Aptos (APT)</a> is at a critical juncture following a significant 6.61% drop in the last 24 hours, as of writing. This decline continues a troubling trend, with a 10.05% decrease over the past week. As market sentiment turns bearish, APT's trajectory hinges on its next moves. However, the key support level of $8.09 may determine if a rebound is possible.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/lamatrades1111/status/1852982001663348753?t=N5cnuTjB9bJDroM3OAOk4A&amp;s=19
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-can-apt-hold-strong-at-critical-support">Can APT Hold Strong at Critical Support?</h2>  
<p>The $8.09 mark represents a pivotal support level for APT. Typically, buying pressure emerges here, potentially sparking a price recovery. However, market dynamics can often defy expectations. A bounce from this level could drive APT back into a <a href="https://cryptonewsland.com/morning-star-patterns-illuminate-aptos-charts/" rel="noopener noreferrer nofollow">supply zone</a> before cooling off.</p>  
<p>If selling pressure continues and this support fails, APT might drop to the next target of $7.23. Continued declines could push the price down to $6.42 or even $6.04. Market participants should closely monitor trading volume and activity around this level.</p>  
<p>Traders often react to price movements, creating a highly volatile environment. A successful rebound could rekindle investor interest and stabilize prices. Conversely, failure to hold at $8.09 might signal deeper trouble for APT, leaving traders feeling anxious.</p>  
<h2 class="wp-block-heading" id="h-bearish-sentiment-grows-as-market-activity-shifts">Bearish Sentiment Grows as Market Activity Shifts</h2>  
<p>Recent <a href="https://www.investopedia.com/terms/c/chain-transactions-cryptocurrency.asp" rel="noopener noreferrer nofollow">On-Chain data</a> shows a troubling trend for APT. Coinglass indicates heightened sell-off activity is weighing down the asset’s price. Liquidation data reveals a staggering $1.45 million in long positions was liquidated in just one day. This figure illustrates a prevailing bearish sentiment among traders who expected a price rally.</p>  
<p>Simultaneously, Open Interest has dropped sharply, falling from $259.04 million to $168.96 million. This decline signals waning buying interest. Active, unsettled derivatives contracts suggest that traders increasingly anticipate further downturns. As more traders take short positions, market confidence wanes.</p>  
<p>Adding to this negative outlook, APT's <a href="https://userguide.cryptoquant.com/cryptoquant-metrics/exchange/exchange-in-outflow-and-netflow" rel="noopener noreferrer nofollow">Exchange Netflow</a> has turned positive in the last 12 hours. This development indicates rising inflows of APT into exchanges. A positive Netflow often signals potential price drops, as more tokens become available for sale.</p>  
<p>Without a significant turnaround, APT’s future remains uncertain, making the next few days critical for this cryptocurrency. All eyes will remain on the crucial support level of $8.09.</p>   
<p>The post <a href="https://cryptonewsland.com/apts-market-sentiment-turns-bearish/" rel="noopener noreferrer nofollow">Market Sentiment Turns Bearish: Is APT’s $8.09 Support Level Strong Enough?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Market Sentiment Turns Bearish: Is APT’s $8.09 Support Level Strong Enough?

Table of Contents

Crypto News Land

Other articles published on Nov 6, 2024

MicroGPT: Transforming the Developer Experience with AI-Powered Precision

Bitcoin Hits New ATH as Trump Nears Presidency, Bulls Brace for Post-Election Volatility

Kamala Harris parody coin plummets more than 90% after Trump’s election win

DWF Labs Dismisses Partner Amid Drink-Spiking Allegations in Hong Kong

How to Buy LeverFi Coin?

Revolutionizing Supply Chains: The Game-Changing Impact of AI

Join our free newsletter for daily crypto updates!