TradeCityPro | APT: Triangle Squeeze Near Crucial Support Zone👋 Welcome to TradeCity Pro!
In this analysis, I’ll be reviewing the APT coin. The Aptos project is one of Ethereum’s Layer 2 solutions.
✔️ This project’s token currently holds a market cap of $3.1 billion and ranks 32nd on CoinMarketCap.
📅 Daily Timeframe
On the daily chart, you can see a very strong support level at 4.718, which has been tested multiple times. The price has once again reached this zone.
💥 A descending trendline can also be drawn, showing clear reactions from the price. The area between this trendline and the 4.718 support forms a triangle pattern.
⭐ If the 4.718 support breaks, a short position could be considered. A breakdown below 37.78 on the RSI would serve as strong confirmation of bearish momentum.
📉 The initial target for the short would be 4.338. However, if a new bearish leg forms and the market heads toward lower lows, a drop toward the 3.12 support level is also possible.
📊 Confirmation of a bullish reversal would come from a breakout above the descending trendline. If this trendline is broken and the 6.152 trigger activates, it would justify opening a long position or even buying in the spot market.
🛒 When it comes to spot purchases, the most important factor is a trend reversal in Bitcoin dominance. Personally, I do not buy any altcoins on spot until Bitcoin dominance shifts downward on the daily chart — I only trade them in futures.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
