Aptos Could See A 95% Rebound, But It Must Hold This Level
Following the recent corrections in the market, Aptos (APT) revisited its macro-range lows and hit a six-month low in early February. According to one analyst, the recovery of cryptocurrencies and the ongoing retest of this critical level could rebound in the coming months.
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Aptos recovers from 6-month low
Aptos has recovered 24% from its recent market correctsending Bitcoin to $91,000, most cryptocurrencies monthly lows. On Sunday, the token was briefly set at 34% from a daily high price above $7 per day to its lowest price since August 2024.
Market Observer Daan Cryptocurrency Trading Famous Since its launch, APT has been moving on two horizontal levels. Higher levels range from $15 to $17, while lower areas range from $4.80 to $5.45.
During the callback, Aptos “didn’t completely sweep the August lows” but “remained the ~$5 zone again,” Daan noted.
Similarly, crypto analyst Rekt Capital analyze The recent performance of cryptocurrencies explains: “APT has now fallen into the bottom of the macro wedge, where it maintains support while creating a downward wicking under it.”
The macro wedge bottom of APT is also a “technical uptrend line dating back to early 2023”, which is crucial to maintaining the technological uptrend and macro market structure. Rekt Capital recommends that cryptocurrencies must be printed above this line every week, which is about $5.97.
However, he noted that APT appears to be in the macro range over the monthly time frame. Analysts explained that APT appears to be developing a third cluster within this macro range, but prices need to maintain a critical $5.45 support zone to maintain this range and rebound.
If cryptocurrency continues Stablize Above this level, it may reverse in the next few months as previous clusters “a few after three monthly candles on the low range”.
However, the price may be retested several times before the rebound. He noted that previous mergers included “downstream chips supported.”
Easy to break through within three months?
If APTO reverses, its price must break the 11-month downward trend. According to Rekt Capital’s analysis, the rejection of the downtrend line fell to the low range, “illustrating that the rebound at the lows of the macro range is getting weaker, which suggests that the support is weak there.”
As a result, APT requires a strong rebound from this macro range of low “with reduced returns”, which seems to be developing from that range.
2023 rebounds have bounced 211% from range lows before facing resistance at ATH levels, while 2024 price rebounds have recovered 145% in the $13 return trip.
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This indicates a potential reduction in returns from low range from low range, which suggests that Aptos must have climb 95% with a resistance above $11 to get off the downward line.
The analysis concluded that a stable price at $5.45 is crucial for cryptocurrency gatherings, and that monthly approaches at this level are necessary for future price rebounds and retesting of retrends.
As of this writing, APT is trading at $5.74, with a weekly schedule down 23%.
Featured images from Unsplash.com, charts from TradingView.com
