Aptos Price Plummets to $0.61 as Bearish Pennant Takes Shape

Aptos (APT) price has been under bearish pressure following the formation of a pennant pattern due to a strong sell-off.

The token is currently trading at $0.6132, showing a decline of 2.14% in the past 24 hours, with a market capitalization of $518.39 million and a 24-hour trading volume of $36.55 million.

Crypto analyst Crypto With Gopal noted that Aptos price has created a bearish pennant formation following a steep fall in prices.

The bears are gaining strength as the token's price is contracting inside the pennant due to reduced volatility, and the bulls have not shown enough strength to trigger any kind of reversal in the downward move.

A break below the lower trendline could trigger selling momentum towards the next support level, while an upward breach above the resistance along with volume would invalidate the bearish pattern.