Aptos Price Breaks Down from $5.70 Level
The price of Aptos (APT) experienced a breakdown from the $5.70 horizontal area in mid-August. Although there was an attempt to reclaim this level on September 25, it was unsuccessful.
Aptos Fails to Reclaim $5.70 Level
Since June, the APT price has been falling under a descending resistance trendline. This suggests a bearish trend until a breakout occurs. On August 9, Aptos was rejected by the trendline, resulting in an acceleration of its fall and reaching a low of $4.93 eight days later.
This decline caused a breakdown from the $5.70 support area, which had been holding since June. After a breakdown, these support areas often act as resistance, as seen on September 25 when the area prevented a reclaiming attempt.
APT Price Prediction: Where to Next?
The future trend of Aptos will depend on whether it can reclaim or break below the $5.70 level. If it reclaims the level, there is a high chance of breaking out from the descending resistance trendline, confirming the end of the correction. This could lead to a major resistance at $8.
However, failure to reclaim the level could result in further decline towards the yearly low of $3, representing a 40% drop from the current price.
Hot Take: Aptos Price Prediction
The Aptos (APT) price is at a critical point as it tries to reclaim or break below the $5.70 level. Reclaiming could lead to significant gains, while a breakdown might result in further losses.
Source: BeInCrypto
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