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After falling from its total domain, APTOS (APT) faced rejection from the main levels. Amid a 15 % monthly decrease, some analysts indicate that the APT will not continue until the resistance of $ 5 is reclaimed.
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Aptos is traded in “No Man’s Land”
Over the past two weeks, APTOS has seen its low prices to its lowest levels in two years, less than the mark of $ 4 for the first time. The cryptocurrency has been trading within the price range from 5.45 to $ 17 since 2023, while maintaining the lowest macro range levels to March corrections.
It is worth noting that Apt has tested this main level twice before, but was closed below the macro range for the first time last month. The analyst Rekt Capital pointed out that the cryptocurrency has historically developed rules on these levels “in the form of a negative effect for three months”, apparently the form of one for the third time with the current declining direction.
In light of the recovery in early April, the analyst indicated that Aptos was a decrease in the enlarged time frame where the RSI Index was its lowest level despite the negative deviation. However, he warned of “the risks of the higher time frame to re -test APT.
Since then, “APTOS has followed this declining test and its rejection of the previous total scope, as it treated it as resistance.” After rejection, the APT price has regained 26 % to the subsidy $ 3.9, as it “found some liquidity” and a bounce to a range of 4.2 to $ 4.5.
“However, the emphasis on the reflection of the trend was not yet present,” adding that APTOS should restore its lowest levels in the total range or risk more bleeding.
APT needs to restore a low level of $ 5.44 as support to confirm that it is ready to arrange through its previous range and try to put itself to challenge the high prices. Without this confirmation, the risk is very slope because the Apt is in the middle of the land of any man.
Until then, “it will be important to pay attention to the signs of the installation force in the meantime,” the analyst added.
A suitable party stopped?
Likewise, Sjuul analyst from Altcryptogems Vision There will be no “any party on APT” to recover a $ 5 resistance, which has not been able to recover during the past two weeks.
“As long as we remain less than the level of $ 5, unfortunately, it is just a declining re -test,” he said. At the same time, another market observer indicated that APT was Move In the past five months, it is within the past five months, with the outbreak of “imminent”.
However, the analyst emphasized that this week’s performance could determine whether the pattern will erupt, because it needs to restore the resistance of $ 5 and the height above 5.4 dollars.
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Rekt Capital noted that Aptos has reconsidered the 35 RSI Relative Power Index during its last performance, “which was historically a major area in facilitating the foundation periods from which the price will return to the upward trend over time.”
With the APT at this level, the relative strength index will need to break the multi -price -price trend in order to “confirm a sign of the emerging force in the price, and to build the bottom area here. Until then, it is mostly waiting game.”
As of the writing of these lines, APT is trading at $ 4.5, a decrease of 1 % in the daily time frame.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
