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

Michael is a professional trader and cryptocurrency technical analyst with many years of trading experience. He became passionate about cryptocurrencies and blockchain technology through his sister and has since been following the industry


Please enter your comment!
Please enter your name here