Aptos Price Plunges Toward $0.96 Support Level Amid Bearish Technical Signals

Aptos (APT) is currently trading near its $0.96 support level, which has been a crucial point of contention for the cryptocurrency in recent days.

According to technical indicators, the momentum is bearish, with the MACD showing a bearish crossover and the RSI sitting at 58.21.

The derivatives market is also painting an ominous picture, with funding rates turning negative and open interest increasing by 3.34% to $22.1 million.

While retail sentiment remains bullish, with 65.1% of respondents holding long positions, the technical setup suggests a bearish trend that could lead to a decline to $0.72 within 5-7 trading days if selling pressure intensifies.