The price of Aptos (APT) looks like it could surge in April as the digital asset is coming close to the convergence of a descending resistance line and the $10 support area. Aptos peaked at an all-time high price of $20.40 on Jan. 26 before falling under the descending resistance line, eventually reaching a low of $9.70 on March 10. Ever since the APT price has attempted to break out from the confluence of resistance, but it was unsuccessfully rejected twice and it is close to testing it again.

The RSI is currently indicating that a decision will have to be made soon as it sits in a neutral position at 50, but to understand if the price shall rise or fall, a lower timeframe analysis is required. The technical analysis from the daily time frame suggests that the price is in the middle of a 5-wave upward movement, the beginning of which started back at the start of the year. Currently the bulls are in control, pushing the APT price to a possible all-time high again.

If the price does break out from the resistance line, it could go as high as $13.80, followed by a potential extension all the way up to $27, with a potential relative 1:1.61 ratio, or even higher to an average price of $37.60. However, these possibilities would become invalid if the price breaks down and goes below the wave two low at $9.77. In this instance, the price could fall to as low as $4.

April could be a turning point for Aptos as the price is soon to decide if it will break out or break down. If it rises, it could experience a surge in price unprecedented to this point, but it must break out and stay there if the bulls are to retain their control. Investors and traders should keep a close eye out, as this might be a tipping point for the APT price trend.



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