Aptos (APT) Could See A 95% Rebound, But It Must Hold This Level – Analyst

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Aptos (APT) Could See A 95% Rebound, But It Must Hold This Level – Analyst - NewsBTC

Quick Summary:

According to Rekt Capital’s analysis, a rejection from the downtrend line, followed by a drop to the Range Low, could "spell that the rebounds from the Macro Range Low are getting weaker, signaling weakening support there.” As a result, APT needs a strong rebound from this Macro Range Low "to go against the diminishing returns” that seem to be developing from this range.

Similarly, Crypto Analyst Rekt Capital analyzed the cryptocurrency’s recent performance, explaining that "APT has now dropped into the Macro Wedge Bottom, holding support there while producing downside wicking below it.” APT’s Macro Wedge Bottom is also the "technical uptrend line dating to early 2023,” which is crucial to maintaining the technical uptrend and the macro market structure in general.

The analyst explains that, in this Macro Range, APT seems to be developing a third cluster, but the price needs to hold the crucial $5.45 support zone to maintain this range and rebound.