APT/USD - Weekly OverviewThe technical chart of Aptos (APT) token reflects the initial buying volume gathered which led to its new all-time high. However, since then, the coin has faced significant selling sentiment at regular intervals which eventually led to a downfall below the 0.236 FIB level. Since then, the price level was not able to have a positive breakout above the Fibonacci level.
Considering the technical indicators, it could be noticed the RSI level had a hard time sustaining above the level of 50 which implies that APT had not received constant buying volume from investors. The same goes for the MACD level which barely spent time above the histogram. However, considering the current trend, green bars have started to formulate on the histogram which could provide Aptos some positive momentum in the near term.
Overall, the price level needs to have a positive breakout above the resistance levels of $5.00 and $6.00. On the contrary, if it faces further downfall, support levels can be placed at $4.00 and $3.00.
