Aptos (APT) has recently hit a six-month low following the market’s corrections, but according to analysts, the cryptocurrency could be poised for a significant rebound if it maintains a crucial support level. APT has been moving within a defined range, and its ability to hold the $5.45 support zone could determine its future trajectory.
The recent market correction saw Bitcoin drop to $91,000, with most cryptocurrencies following suit. Aptos briefly nosedived 34% to its lowest price since August 2024 but has since recovered 24%. The token’s movement within a defined range, with a higher zone between $15 to $17 and a lower zone around $4.80 to $5.45, has caught the attention of market analysts.
Crypto Analyst Rekt Capital suggests that APT must print a Weekly Close above $5.97 to maintain its technical uptrend and overall market structure. The $5.45 level is crucial for Aptos to develop a third cluster within its Macro Range, potentially leading to a reversal in the coming months.
For Aptos to break out of its 11-month downtrend, it would need to climb 95% above the $11 resistance level. A failure to do so could signal diminishing returns and weakening support. The 2023 rebound saw Aptos gain 211% from its range lows, while the 2024 rebound recorded a 145% increase before retracing.
In conclusion, Aptos’ ability to hold the $5.45 support level and close above $5.97 on a Monthly basis is crucial for its potential rally and retest of the downtrend. As of now, APT trades at $5.74, down 23% in the weekly timeframe.
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Tags: Aptos, APT, Crypto Market, Technical Analysis, Support Levels, Resistance Levels, Price Prediction
Source: https://www.newsbtc.com/news/aptos-apt-could-see-a-95-rebound-but-it-must-hold-this-level-analyst/