Aptos (APT) To Continue Moving In ‘No Man’s Land’ – Can It Reclaim $5?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. After falling from its Macro Range, Aptos (APT) has faced rejection from key levels. Amid its 15% monthly decline, some analysts suggest that APT’s party won’t continue until the $5 resistance is reclaimed. Related Reading Aptos Trades In ‘No Man’s Land’ Over the past two weeks, Aptos has seen its price drop to its lowest levels in two years, falling below the $4 mark for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, maintaining the Macro Range lows until the March corrections. Notably, APT had tested this key level twice before, but closed below its Macro Range for the first time last month. Analyst Rekt Capital noted that the cryptocurrency has historically developed bases around these levels “in the form of downside wicks for three-month periods,” seemingly forming one for the third time with its current downtrend. Amid the early April recovery, the analyst noted that Aptos was forming a lower timeframe bullish divergence as its Relative Strength Index (RSI) was forming Higher Lows despite the downside deviation. Nonetheless, he warned about “the dangers of a higher timeframe bearish retest for APT.” APT trades below its key macro range. Source: Rekt Capital Since then, Aptos has “followed through on that bearish retest and rejected from the previous Macro Range Low, treating it as resistance.” After the rejection, APT’s price retraced 26% to the $3.9 support, where it “found some liquidity” and bounced to the $4.2-$4.5 range. “However, still, the confirmation for a trend reversal isn’t there just yet,” he explained, adding that Aptos must reclaim the Macro Range Lows or it would risk further bleeding. APT needs to reclaim the $5.44 Range Low level as support to confirm that it is ready to resynchronise with its prior range and try to position itself to challenge for higher prices. Without that confirmation, the risk is a little bit too steep because APT is in the middle of no man’s land. Until then, “it will be important to watch out for signs of mounting strength in the meantime,” the analyst added. APT Party Halted? Similarly, analyst Sjuul from AltCryptoGems considers that there will be “no party on APT” until it reclaims the $5 resistance, which it has been unable to recover for the past two weeks. “As long as we stay below the $5 level, unfortunately, it’s just a bearish retest,” he asserted. Meanwhile, another market watcher pointed out that APT has been moving within a falling wedge pattern for the past five months, with a breakout “imminent.” However, the analyst affirmed that this week’s performance could determine whether the pattern will break out, as it needs to reclaim the $5 resistance and surge above $5.4. Related Reading Rekt Capital noted that Aptos has revisited the 35 Relative Strength Index (RSI) during its recent performance, “which has historically been a key region in facilitating basing periods from which price would reverse to the upside over time.” With APT at this level, the RSI would need to break its multi-week RSI Downtrend to “confirm a sign of emerging strength in price, building out a bottoming-out area here. Until then, it is a waiting game for the most part.” As of this writing, APT trades at $4.5, a 1% decline in the daily timeframe. APT’s performance in the one-week chart. Source: APTUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Aptos (APT) Ready For A Breakout? Analysts Eye 20% Rally If This Level Is Reclaimed
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Amid the market retrace, Aptos (APT) has seen an 8% decline in the past 24 hours, falling below a key support zone for the second time this week. Despite the correction, some analysts consider that the cryptocurrency could be poised for a breakout soon. Related Reading Aptos Loses Macro Range Lows During the March retraces, Aptos fell below a crucial support level for the first time since August 2024 but recovered 24% near the end of the month. However, APT followed the rest of the market and dumped 11% to close the March below key levels. Analyst Rekt Capital noted that APT closed last month below its Macro Range Low of $5.44 for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, retesting the range lows two times before. Historically, “APT tends to develop bases here in the form of downside wicks for three-month periods,” he explained, adding that the cryptocurrency seems to be developing a third three-month base, with the difference that it has closed below this range for the first time in the monthly timeframe. Aptos monthly closes below macro range lows. Source: Rekt Capital Following this performance, Aptos will need to reclaim the $5.44 level as support “to end this Monthly close as a downside deviation” and “avoid a bearish retest here.” Previously, the analyst suggested that holding this level could reverse ATP’s price action in the coming months, as it has done with the other clusters. Additionally, he pointed out the previous consolidations included a “downside wicking below support.” In his recent analysis, Rekt Capital considers that APT’s daily bullish divergence “is still something worth watching” as the cryptocurrency’s Relative Strength Index (RSI) continues to form Higher Lows despite the recent downside deviation, and its price “is trying to transition away from Lower Lows into a new Higher Low.” According to the analyst, “a clear market structure is developing here, and a breakout from it would validate the Bull Div and set APT up for a reclaim of the Macro Range Low of $5.44,” which is key for a bullish rally. APT To Reclaim $6.5 Resistance? Analyst Sjuul from AltCryptoGems highlighted Aptos’ strength amid the market volatility, which saw Bitcoin (BTC) drop from $88,000 to $81,000 in the past 24 hours. APT dropped from the $5.40 mark to the $4.95 support. The analyst considers that a retest of the local range lows could be necessary before the cryptocurrency aims for the next crucial level, as the current price zone has been tested many times. Related Reading Moreover, a reclaim of the $5.44 range could see the APT surge another 20% to the $6.5 resistance lost two months ago. Another market watcher suggested that Aptos is “showing potential for a bullish breakout as it trades within a descending channel.” Per the chart, the cryptocurrency has been trading within a descending channel since early February, testing the channel’s lower and upper boundaries throughout March. “After testing the lower trendline, it may be finding support, and a break above the upper resistance will signal a significant rally,” the analyst concluded. As of this writing, Aptos trades at $5.02, a 16.1% decline in the weekly timeframe. Aptos’ performance in the one-week chart. Source: APTUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Aptos Could See A 95% Rebound, But It Must Hold This Level
Este artículo también está disponible en español. Following the market’s recent corrections, Aptos (APT) has revisited the lows of its Macro Range, hitting a six-month low at the start of February. According to an analyst, the cryptocurrency’s recovery and ongoing retests of this crucial level could lead to a rebound in the following months. Related Reading Aptos Recovers From 6-Month Low Aptos has recovered 24% from the recent market correction, which sent Bitcoin to $91,000 and most cryptocurrencies to monthly lows. On Sunday, the token briefly nosedived 34% from its daily high above $7 to its lowest price since August 2024. Market watcher Daan Crypto Trades noted that APT has been moving within two horizontal levels since its launch. The higher horizontal level ranges from $15 to $17, while the lower zone ranges from around $4.80 to $5.45. During the pullback, Aptos “didn’t quite sweep the August lows” but “held on to that same ~$5 area again,” Daan pointed out. Similarly, Crypto Analyst Rekt Capital analyzed the cryptocurrency’s recent performance, explaining that “APT has now dropped into the Macro Wedge Bottom, holding support there while producing downside wicking below it.” APT’s Macro Wedge Bottom is also the “technical uptrend line dating to early 2023,” which is crucial to maintaining the technical uptrend and the macro market structure in general. Rekt Capital suggests that the cryptocurrency must print Weekly Closed above this line, at around $5.97. Aptos retests the bottom of its macro wedge pattern in the one-week timeframe. Source: Rekt Capital However, he noted that, in the monthly timeframe, APT appears to be in a Macro Range. The analyst explains that, in this Macro Range, APT seems to be developing a third cluster, but the price needs to hold the crucial $5.45 support zone to maintain this range and rebound. If the cryptocurrency holds continued stability above this level, it could reverse in the following months, as previous clusters saw “several after three monthly candles at the Range Low.” However, the price could see several retests before a rebound. He pointed out that the previous consolidations included a “downside wicking below support.” APT To Breakout In Three Months? If Aptos reverses, its price must break its 11-month downtrend. According to Rekt Capital’s analysis, a rejection from the downtrend line, followed by a drop to the Range Low, could “spell that the rebounds from the Macro Range Low are getting weaker, signaling weakening support there.” As a result, APT needs a strong rebound from this Macro Range Low “to go against the diminishing returns” that seem to be developing from this range. APT’s potential diminishing returns from the macro range lows. Source: Rekt Capital The 2023 rebound saw Aptos bounce 211% from the range lows before facing resistance near ATH levels, while 2024’s price rebound recorded a 145% jump before retracing from the $13 mark. Related Reading This suggests a potential diminishing in returns from the range low, signaling that Aptos must climb 95%, above the $11 resistance, to break out of the downtrend line. The analysis concluded that price stability at $5.45 is vital for the cryptocurrency’s rally, and a Monthly Close above this level is necessary for a future price rebound and retest of the downtrend. As of this writing, APT trades at $5.74, a 23% decrease in the weekly timeframe. APT’s performance in the one-week chart. Source: APTUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com Source link
Here’s How Aptos Price Could Slide Further Down Toward $4.3
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world. Source link