Aptos (APT) is in the crossroads of a dispute, trading at a vital support level of $4.76 which has seen a loss of 7.5% in just the past 24 hours. The token has been no kinder this week, down over 15%, stretching a wider, month-long slump of 7.23%. Analysts, however, posit a breakout could be growing in the shadow of bearish headlines.
Crypto marketaters RektCapital say that APT appears to be poised to cross a historically strong support level a level that’s been tested over ten times. “Any piece of support tested and held has become stronger.” RektCapital says. While their technical chart has a steep descending trend that defines the broader downtrend, Aptos is actually close to forming a bullish wedge pattern.
Aptos (APT) Battles Resistance, Eyes 20% Upside
A technical formation, the two narrowing, downward sloping trendlines of this wedge frequently foretell a reversal. The closer price gets to quarters, the more strenuous the battle between buyers and sellers becomes, and the bulls are winning it for the time being.
A breakout attempt is forming as it bleeds out towards the right side of the wedge, a bullish reversal if APT can manage to climb above the wedge’s upper boundary.
The yellow highlighted support zone has held in as a demand area until now. If it should hold, analysts hope that Aptos will be able to pierce resistance levels and reach a $7–$9 range, which would represent an over 20% increase.
Nevertheless, 13 of the major Moving Averages show sell signals while momentum may be shifting. Even after recent losses, the Relative Strength Index (RSI) is rising upwards suggesting rising bullish sentiment. While the Stochastic Oscillator hasn’t turned fully bull yet, analysts think it might do so soon.
“This is one of those special dates that the technicals are bearish but the formation screams to break out,” another analyst said. “As long as the wedge holds the APT can continue to stage a powerful rally.” In a volatile crypto landscape, APT is standing at a crossroads. For traders, this might just be a make-or-break moment.
