The weekly time frame chart shows that APT has fallen under a descending resistance trend line since the all-time high of $20.40 in January. The resistance has existed for 693 days. So far, it has been validated thrice (black icons), most recently in December.
The final rejection triggered a downward movement that led to a low of $10.41. However, APT regained footing and created a long lower wick (white icon), validating the $10.70 horizontal area as support. Such wicks are considered signs of buying pressure.
After bouncing, the APT price has nearly returned to the resistance trend line, currently at $15.30. If it breaks out, there will only be minor resistance left until the Aptos all-time high.
Technical indicators imply the upward movement will continue. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing and above their bullish thresholds at 50 and 0, respectively.
Also, the RSI has almost crossed above 70, historically leading to parabolic rallies.
So, the weekly time frame price action and indicator readings predict an APT breakout and a new all-time high.
New APT All-Time High?
The long-term APT wave count aligns with the positive price action and indicator readings. The most likely wave count shows a completed A-B-C correction (black) that has been ongoing since the all-time high.
If the count is accurate, the price started a new five-wave increase in August (white) and is currently in wave two.
Based on the weekly time frame, it is unclear if wave two is over or if the APT price will fall again to complete it. However, an eventual breakout and new APT all-time high is likely.
The 1.61 external Fibonacci retracement of the decline creates the first target for the top of the upward movement at $30.25.
therefore, the APT price will likely break out from its long-term resistance soon, moving upward toward the all-time high and target of $30.25.
Breakout Approaches
The Aptos price has strengthened by retracing most of last week’s correction.
If APT breaks out from the resistance trend line as expected, it can increase to a new all-time high and a target of $30.25.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
