The Aptos price has been mired in a long-term downtrend since the start of 2023. Since then, the price has created two lower highs, the most recent in December 2024.
While this triggered a 60% decline, APT has regained its footing in the past few weeks, creating a bullish pattern combined with bullish divergences.
Will this mark the downtrend’s trend, or will it be a relief rally followed by new lows? Let’s find out.
APT Trading Range
The weekly time frame APT chart shows that the price has fallen under a descending resistance trend line since the start of 2023. So far, the trend line has caused three rejections (red icon), the most recent in December 2024.
After a 60% decline, the APT price fell back within its long-term horizontal range of $5 to $10.50. Except for a few deviations, the range has existed for over two years.
Technical indicators are showing bearish signs. The Relative Strength Index (RSI) is below 50, while the Moving Average Convergence/Divergence (MACD) is negative.
Therefore, the weekly time frame readings suggest an eventual breakdown is likely, possibly taking the APT price to new lows.
Bullish APT Pattern
While the weekly chart is bearish, the daily one offers hope for an eventual reversal. It shows that APT has created a triple bottom pattern inside the $5 horizontal support area.
The triple bottom is a bullish pattern combined with bullish divergences in the RSI and MACD (orange).
A breakout from the descending resistance trend line will confirm this possibility, triggering an upward movement toward $10.50.
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The wave count aligns with this possibility. It shows that Aptos has completed a five-wave downward movement starting in December 2024 (red). The fifth wave is truncated, ending above the bottom of wave three.
While this is unusual, it does not invalidate the wave count.
If the count is accurate, an upward A-B-C structure will follow, taking the APT price toward the range high of $10.50.
Despite the bullish short-term Aptos prediction, closing below the long-term support of $5.50 will invalidate the bounce possibility.
In that case, the APT price would break down from the range low and fall toward new lows.
APT Breakout Incoming
The APT price has created a bullish pattern inside its long-term range.
A breakout from the short-term descending resistance trend line can lead to a significant upward movement toward the range high of $10.50.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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