Market Overview: APTUSDT – APTOS Faces Critical Support Test

• APTUSDT fell 12.6% in 24 hours, closing at $4.424 after a sharp selloff from $4.615 highs.
• A bearish engulfing pattern formed near $4.58, confirming a reversal and confirming downward momentum.
• Volume spiked during the sell-off, with turnover exceeding $12.7 million, suggesting strong conviction in the bearish move.
• RSI hit oversold territory below 30, but price remains below key 50-period moving averages.
• Bollinger Bands widened during the selloff, indicating rising volatility and potential for a bounce.

Aptos (APTUSDT) opened at $4.583 on 2025-07-29 12:00 ET and closed at $4.424 on 2025-07-30 12:00 ET. The pair reached a high of $4.615 and a low of $4.403 during the 24-hour period. Total volume traded was 2,460,757.43 APT, with notional turnover of approximately $12.7 million.

Structure & Formations

A bearish engulfing pattern emerged around $4.58 as prices reversed sharply lower after a brief consolidation phase. The formation is confirmed by a close below the prior candle’s open, suggesting strong bearish control. A potential support zone appears to be forming near $4.42–$4.45, as prices have struggled to break below this range despite increased selling pressure. A key resistance level at $4.56–$4.58 was decisively breached, reinforcing the bearish outlook.

Moving Averages

On the 15-minute chart, price is below both the 20 and 50-period moving averages, indicating a short-term bearish bias. On the daily chart, the 50-period moving average is likely above $4.65, and the 200-period is even higher, placing current price action in a clear downtrend. The 100-period MA is likely near $4.53, meaning price is still below a critical psychological level for near-term buyers.

MACD & RSI

The MACD turned negative during the selloff, with the signal line crossing below the histogram, confirming bearish momentum. RSI dropped to below 30, indicating oversold conditions, but price has not yet shown signs of a rebound, suggesting a continuation of the downward move. A bounce could be possible, but without a strong MACD crossover or RSI rebound above 35, a further decline into $4.40 levels remains a risk.

Bollinger Bands

Bollinger Bands widened significantly during the selloff, indicating rising volatility. Price has closed near the lower band in recent 15-minute intervals, suggesting a potential for a short-term bounce. However, if the upper band is not retested in the near term, the pair may remain in a bearish consolidation phase.

Volume & Turnover

Volume spiked during the sell-off, with a large block of 298,188.45 APT traded at $4.496–$4.437, indicating aggressive liquidation. Turnover during that period exceeded $1.6 million, reinforcing the conviction behind the move. However, volume has since dropped sharply, with minimal activity after 15:00 ET, suggesting a lack of follow-through from buyers.

Fibonacci Retracements

A recent 15-minute swing from $4.615 to $4.403 aligns with key Fibonacci levels. The 61.8% retracement level is near $4.50, which has been tested but not held. A break below the 38.2% retracement at $4.54 could confirm a deeper bearish bias. On the daily chart, a major Fibonacci level may be near $4.60, which has been a key resistance point.

APTUSDT may test support at $4.40–$4.42 in the coming 24 hours, with a potential bounce likely if RSI rebounds above 35. However, a break below $4.40 could accelerate the decline into $4.35. Investors should remain cautious of the bearish momentum and watch for key level retests.