Key points:
A bullish breakout from the flag pattern resistance trendline could hint at the resumption of price recovery
On January 26th, the daily chart candle showed a high wick rejection at $20, indicating the sellers are aggressively defending this level.
The intraday trading volume in Aptos is $1.25 Billion, indicating a 53% loss.
Aptos Price Prediction Shows Repetitive Formation Of Bullish Pattern
Source- Tradingview
This bullish continuations pattern displays itself with a strong bull run followed by a minor counter-trend correction to recuperate the bullish momentum. In theory, this minor pullback neutralizes the excess buying and refuels buying pressure for higher gains.
This month the Aptos price action has already formed this pattern twice, and the third one is in progress. Thus, this altcoin’s recent reversal from $20 psychological resistance has triggered the current pullback.
Also Read: CRYPTO TELEGRAM CHANNELS LIST 2023
If the buying pressure persists in the market, a bullish breakout from the pattern’s resistance trendline will offer buyers a suitable launchpad to prolong the price rally. In an ideal bullish scenario, the post-breakout rally could push the Aptos price to the $26 mark.
On a contrary note, the traders should be cautious at $20 as it could assist sellers in undermining the bullish thesis.
Moreover, a renounced crypto Enthusiast/Traders @LaCryptoLycus recently highlighted the strong bullish momentum in Aptos coin, which indicate more upside potential in the ongoing bull run.
$APT | $USDT
Absolutely #APT smashed prices since it started to go parabolic.
Still there is more upside potential as @InSilvaNFT Kreachers reveal.
RSI in 4 hour chart still remains bullish and the chart shows there is a repeated trend that is following. #AptosNFTs #Aptos pic.twitter.com/qBZ48MUHu9
— LaCryptoLycus
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