Aptos (APT) Recovers Despite Market Correction — Price Targets $14

Key Takeaways

• Aptos (APT) broke out above its September high on Oct. 3.
• The APT price has likely finished an A-B-C correction.
• Has APT started its reversal, and can it reach new highs?

The Aptos (APT) price has increased since Aug. 5, after creating several higher lows in September; the price reached a new monthly high of $8.64 on Sept. 26. Then, after a crypto market correction that started on Oct. 1, APT posted one of the best recoveries, briefly moving above the $8.64 high on Oct. 3.

Since cryptocurrencies that show strength after a correction are often the first to reach new highs, let’s analyze the APT price movement and see if this will be the case.

Aptos Completes Correction

The 3-day Aptos price history shows a downward movement since the Jan. 2023 all-time high of $20.40. In March 2024, APT created a lower high and fell at an even more accelerated rate.

Besides two deviations, most movement is contained inside the $5-$10 horizontal range.

On Aug. 5, the APT price fell to $4.32 but bounced almost immediately afterward, reclaiming the $5 horizontal area. The price has increased since.

Bullish divergences in the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) (green) led to the upward movement, which has culminated in a high of $8.74.

Since the divergences, the RSI has increased above 50, and the MACD has moved into positive territory, confirming the reversal trend.

Read More: Aptos Price Prediction 2024: APT Price Analysis

On top of these bullish signs, the entire movement since the all-time high looks like a completed A-B-C correction, where waves A:C had a nearly 1:1 ratio.

So, all signs from the 3-day time frame point to the possibility that the APT price has started a new upward trend.

APT Price Breaks Out

Similarly to the 3-day time frame, the daily one also gives a bullish APT price prediction. On Sept. 20, the price of APT broke out from a descending resistance trend line and reclaimed the $7.80 horizontal area.

Then, the RSI crossed above 50 while the MACD moved into positive territory.

It is also worth mentioning that despite the crypto market correction since Oct. 1, the APT price has already regained all of its losses and moved to new highs.

So, all signs point to an upward movement toward the 0.618 Fibonacci retracement resistance level at $13.75.

Because of the positive long-term readings, APT may reach a new all-time high. However, the $13.75 area is likely to provide temporary resistance.

Aptos Shows Strength

The APT outlook is bullish in both long- and short-term time frames. Moreover, APT has recovered admirably during the ongoing market correction, a sign that the upward movement will likely continue once the market stabilizes.