Aptos (APT) Declines 8% as Analysts Predict Potential 20% Rally
Aptos (APT) has experienced an 8% drop in the past 24 hours, falling below a critical support zone for the second time this week.
Aptos Loses Macro Range Lows
- APT closed last month below its Macro Range Low of $5.44 for the first time.
- The cryptocurrency has traded within the $5.45-$17 range since 2023 and has tested the lows twice.
- Analyst Rekt Capital noted APT is developing a third three-month base below the previous support level.
- Aptos must reclaim the $5.44 level to avoid further declines and potential bearish retests.
- The daily bullish divergence in APT's Relative Strength Index (RSI) signals possible upward momentum.
APT To Reclaim $6.5 Resistance?
- Analyst Sjuul pointed out Aptos' resilience amid market volatility, with BTC dropping from $88,000 to $81,000.
- APT fell from $5.40 to $4.95 support; retesting local range lows may be necessary before targeting higher levels.
- A recovery above $5.44 could lead to a 20% increase towards the $6.5 resistance.
- Aptos is showing potential for a bullish breakout as it trades within a descending channel since February.
Aptos is currently trading at $5.02, reflecting a 16.1% decline over the past week.