Despite past days of correction, the price of Aptos is still up by over 80% in a week. It has found support and now footing a fresh bullish rally.
Following this month’s recovery across the crypto market, Aptos saw a big price movement and at the same time posted a lot of gains in the past weeks.
So far, it remains the top gainer of the month alongside Threshold, Lido DAO, Optimism and a host of others, based on the 30-day timeframe data on the coinmarketcap.
The recovery, which started around $3 in late December 2022, saw the asset to the peak of $14.6 – returning over 300% gains in the space of three weeks. It later took a break last weekend and undergo correction.
Aptos has started to show a sign of strength again after a three-day retracement to around $11.78 yesterday. It has found temporal support around that price level and bounced to $13.83 a few hours ago.
It currently looks for a retest of around $13. A further bounce from there should push the price higher in the next few hours. On the other hand, a drop below the mentioned retracement price level might lead to a big short than a long.
Considering Bitcoin as the major mover and shaker of the overall crypto price actions, its next direction is most likely to affect Aptos’s price – be it positive or negative.
Aptos Key Level To Watch
Source: Tradingview
If we look at the price actions in the 15-minute time frame, APT has already formed a bullish pattern as it prepares for more upside movement.
The price is likely to advance towards the $16 and $18 levels in the next leg-up. However, it will need to flip the current monthly resistance mentioned earlier. It may also target $20 if buying pressure becomes heavy.
Should the price drop below yesterday’s retracement level, the potential support to consider is $10, followed by $8.81. It could even slip to $8 if the price continues to dip.
Key Resistance Levels: $14.6, $16, $18
Key Support Levels: $11.78, $10, $8.81
- Spot Price: $13.5
- Trend: Neutral-Bullish
- Volatility: Moderate
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Image Source: Photo by eberhard 🖐 grossgasteiger on Unsplash
