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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Nov 20, 2024 13:16 UTC
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APT Price in a Rounding Reversal Hints at $18 Target: New 52-Week Highs Ahead?
APT consolidates between $11 and $13.74, with a breakout likely determining the next trend.
Fibonacci levels highlight targets of $18.07, $19.48, and up to $39.83 in the long term.
A bullish engulfing candle and golden crossover maintain optimism, avoiding a bearish MACD signal.
With an impressive 151.30% recovery, the APT price has surged to $12.65, consolidating between key Fibonacci levels of $11 and $13.74. As Aptos stands poised for a potential breakout, will the Aptos price rally to $18.07 or reclaim its 52-week high of $19.48? Let’s dive into Coinpedia’s Aptos price analysis, packed with technical insights and future price targets.
APT Price Forms Rounding Bottom Reversal
In the daily chart, the APT price action shows a rounding bottom reversal getting momentum. During the early 2024, the Aptos price registered a 52-week high of $19.48.
However, with the broader market pullback, the APT price dropped to $15.03, accounting for a price drop of nearly 75%. Nevertheless, with the broader market recovery, the APT has now regained almost 70% of its lost value.
Currently, the APT price is trading at $12.65, accounting for a price jump of 151.30%. With an intraday gain of 7.11%, the APT price is currently consolidating between a price range of $11 and $13.74. These levels overlap with the 61.80% and 78.60% Fibonacci levels.
Hence, a bullish breakout of either of these levels will determine the upcoming price trend. With the current bullish engulfing candle at play, the upside chances are significantly higher.
Technical Indicators:
EMA: The sudden surge in bullish demand leading to higher high formation has led to a golden crossover and a positive crossover within the 100-day and 200-day EMA lines. Hence, the average lines maintain a positive alignment and maintain a bull run to provide dynamic support.
MACD: The intraday gain has avoided a bearish crossover in the MACD and signal lines with a new bullish histogram resurfacing. Hence, the technical indicators maintain an optimistic viewpoint for Aptos.
Will APT Price Hit $18?
The Fibonacci retracement level paints the next potential price target at $18.07, increasing the chances of a new 52-week high above $19.48. The retracement tool highlights the next potential target for a new all-time high at $25.59, followed by $39.83.
These price targets seem unachievable in 2024 but could be possible in early 2025. Conversely, a slip below the 61.80% level is likely to pre-test the 50-day EMA at $10.
Will the Aptos price surge in the long run? Read Coinpedia’s Aptos (APT) Price Prediction for 2024-2030 and subscribe to us for the latest crypto updates.
FAQs
The APT price is consolidating between $11 and $13.74, with a 151.30% recovery from its recent lows. It is trading at $12.65 with an intraday gain of 7.11%.
The next potential targets are $18.07, followed by a new 52-week high above $19.48, and long-term targets of $25.59 and $39.83 into early 2025.
A slip below the 61.80% Fibonacci level at $11 could lead to a retest of the 50-day EMA at $10, potentially halting the bullish trend.
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