Aptos (APT) sees an increase in market volatility: price impact
APT, the governing symbol of Layer 1 blockchain network Aptos, has seen a significant price drop over the past month. This is due to the overall decrease in activity in the cryptocurrency market during that period.
Exchanging hands at $5.82 at press time, the price of the altcoin has fallen by more than 30%. APT is at risk of significant price volatility as the exchange rates begin to rise.
Aptos sees Spike as a variable
Bowling bands are the first indicator of increased volatility in the Aptos market. This key volatility market reading shows the difference between the upper and lower bands of the indicator.
Bollinger Bands measure asset market volatility and identify overbought or oversold conditions. When the gap between the upper and lower bands of the indicator widens, it indicates market volatility.
Also, during the bearish period, the widening bands suggest that the downtrend may continue. A lack of strong selling pressure or buying interest at current price levels.
APT's Average True Range (ATR) confirms rising volatility in the market.
Read more: Where to buy Aptos (APT): 5 best platforms for 2024
This indicator measures market volatility by calculating the average range between high and low prices over a given period.
As the value increases, it indicates increased market volatility and hints that price swings are possible in either direction. At press time, APT's ATR is 0.48. It has been at its peak since July 1st.
APT Price Prediction: Bear Divergence Risk Token
Despite the decrease in APT prices, it has seen an increase in daily trading volume. While the token price fell by 18% last week, trading volume increased by 29%.
The opposite movements of the APT price and its daily trading suggest that many market participants are actively selling the asset.
If the selling activity is higher, the price of the token may drop to $5.62.
However, while an increase in volume during a downtrend generally supports the continuation of the downtrend, an increase in volume can sometimes precede a price reversal. Therefore, if APT sees a correction, the price may rise above $5.90.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
