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- Aptos
(APT) is following a downtrend channel. - $10 is trading above.
- Aptos (APT) price may be in the third wave of a five-wave upward movement.
Aptos (APT) price may be at the beginning of a larger upward movement towards a new all-time high.
Will Aptos (APT) Price Break the Downtrend?
Aptos price fell below a downtrend line after reaching an all-time high price of $20.40 on January 26. This decline had brought prices down to $9.70 on March 10.
Since failing to break the support price formed in the downtrend, APT price has risen. Aptos was primarily rejected at the resistance levels of $13.80 (red circle), then fell along the line and experienced another rejection on April 2 (red symbol).
APT price is approaching the convergence between the resistance line and the $10 support area. Therefore, a definite movement is expected soon. A rise in price would take it up to $13.80, while a collapse could cause it to drop to $7.
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The daily RSI is at 50, indicating a neutral trend. Therefore, it does not show whether APT price will rise or fall.
Therefore, it is necessary to look at a lower time frame to determine whether the APT price trend is bullish or bearish.
Aptos (APT) May Be in the 2nd Wave of a 5-Wave Upward Movement!
Technical analysis from the daily time frame provides a more precise bullish forecast for Aptos price. The large upward movement at the beginning of the year was likely the first wave of a five-wave upward movement (black). This is supported by the completion of the correction at the 0.618 Fib retracement support level (white).
Then, the next rise that caused the upward price movement is likely the beginning of the third wave. The number of sub-waves is given in white.
If so, the price could rise to at least $27, so that the first and third waves have a 1:1 ratio. If the third wave expands, the next resistance will be around $37.60, and the first and third waves will have a 1:1.61 ratio.
On the other hand, falling below $9.77 (red line) will invalidate the bullish wave count. In this case, the digital asset could drop to $4.
As a result, the most likely Aptos price prediction for April is an increase to at least $27, and possibly $37.60. However, a drop below $9.77 will invalidate this bullish forecast. In this case, APT price could drop to $4.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. COINOTAG is committed to accurate, unbiased reporting, but market conditions can change without notice. Always do your own research and consult with a professional before making any financial decisions.
