With its long-term chart showing extreme bullish signals, Aptos (APT) could be set to break its all-time high of $20.40. Since reaching that peak on January 26, the APT price has slumped and finally found a support level of $9.70 before bouncing back up on March 10. After the bounce, the daily Relative Strength Index (RSI) failed to cross the crucial 50 level and it is once more looking to dip back down.

Studying the hefty upward movement at the beginning of the year, APT appears to have corrected itself and is now at the bullish 0.618 Fibonacci Retracement support of $9.72. This break out of a descending resistance line could symbolise the start of an even bigger increase in the price, taking APT’s price to $26.87, the 1.61 Fib external retracement of the price dip.

However, the price must negotiate the resistance at $13.65 first, in order to confirm the trend reversal. Moving in the opposite direction, if the support of $9.72 is breached then APT is likely to drop to the next closest support at $7.90.

It's clear that Aptos holds great potential for investors, but it is also essential to be aware of the risk factors. Aptos has the capability of reaching new heights, as well as slipping back down. To grasp this opportunity, it’s necessary to be diligent of the APT price forecast, and take a calculated risk based on a full understanding of the market.



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