The post APT Price in a Rounding Reversal Hints at $18 Target: New 52-Week Highs Ahead? appeared first on Coinpedia Fintech News
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.