Aptos (APT) Price Analysis

Aptos (APT) has declined by 27.55% over the last few months, with recent volatility causing its price to hit a low of $4 from a local high of $9.8.

Price Trends

The altcoin has traded within a descending channel, with repeated rejections when attempting to break resistance, indicating strong bearish sentiment. Currently, APT is trading at $6.07, down 4.45% in the last 24 hours and also experiencing a weekly and monthly decline of 1.32% and 27.55%, respectively.

Market Sentiment

Despite the price drop, market optimism appears to be returning, with investor sentiment reaching November levels, as reported by Santiment. With weighted sentiment at a three-month high, there are more favorable opinions on Aptos than negative ones. This positive sentiment has persisted for five days.

Potential Recovery

Recent analysis from AMBCrypto suggests that buyers are attempting to reclaim the market. The Delta has turned positive, indicating that buying pressure now exceeds selling pressure. Furthermore, consistent aggressive buying and a positive order imbalance reflect a bullish sentiment, with large investors accumulating.

Long positions currently dominate the market, with 75.3% of total Futures accounts being long. This indicates bullish expectations for a price rebound.

If the current buying momentum continues, Aptos could potentially break out of its descending trendline and reclaim the $7 level, setting the stage to reach $8.53 in the long term.