APT spikes 30% after a recent dip, showing strong bullish momentum. However this could still be a part of a larger correction.
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Key Takeaways
APT peaked at $15.29 before entering a corrective phase.
30% recovery after a recent dip could be a part of a larger correction
Chart analysis pointing to consolidation or further correction.
Aptos (APT) has completed a five-wave impulsive structure, peaking at $15.29 before entering a corrective phase.
After a retracement to $11.08, aligning with the 0.382 Fibonacci level, APT rebounded strongly, trading above $13, indicating potential consolidation or continuation of bullish momentum.
Key support and resistance levels will dictate the next major trend.
The APT daily chart shows the completion of a five-wave impulsive structure, peaking near $15.29 before entering a corrective phase.
The price fell to $11 on Dec. 10, aligning with the 0.382 Fibonacci retracement level. However, it spiked 30% and is now traded above $13 again.
APTUSD five-wave impulse developed | Credit: Nikola Lazic/TradingView
The Relative Strength Index (RSI) indicates a cooling-off phase from overbought conditions, pointing toward the possibility of further correction or consolidation.
Key support lies near $11.08 (0.382 Fibonacci), which aligns with prior resistance-turned-support levels. Holding above this level would confirm bullish strength and allow for a potential retest of the previous high.
If bearish momentum increases, APT could target deeper corrections toward $9.77 (0.5 Fibonacci) or $8.47 (0.618 Fibonacci).
On the upside, reclaiming the $15.29 resistance would signal continued bullish momentum and pave the way for higher Fibonacci extensions.
Key Observations:
Five-Wave Completion: APT peaked at $15.29 after completing a five-wave structure.
Deeper Correction Levels: Further support lies at $9.77 and $8.47.
The APT hourly chart displays the token entering a corrective ABC structure after peaking at $15.29, completing its wave (v).
Wave (a) retraced to $11.08, aligning with the 0.382 Fibonacci level, before a wave (b) recovery brought the price near $14.
The structure indicates a potential downside to complete wave (c), likely targeting deeper Fibonacci levels.
APTUSD over 30% recovery seen | Credit: Nikola Lazic/TradingView
The RSI shows recovering momentum after a dip, suggesting wave (b) may have peaked. A break below $11.08 would confirm wave (c) progression, with further support at $9.77 (0.5 Fibonacci).
Depending on market momentum, consolidation within these levels could set up APT for its next bullish wave.
If APT holds support and maintains upward momentum, a return to $15.29 is possible. Conversely, a breakdown could test the $8.47 and $6.62 levels, key support zones for continued structural integrity.
This consolidation phase will define the token’s next significant trend.
Key Levels to Watch
Support Levels:
$11.08: Critical support at the 0.382 Fibonacci retracement.
$9.77: Major support at the 0.5 Fibonacci level.
$8.47: Deeper support near the 0.618 Fibonacci level.
Resistance Levels:
$13.60: Current wave (b) high and immediate resistance.
$15.29: Recent peak and key breakout level.
$17.50: A projected target for the next bullish wave.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis.
Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information.
