Aptos (APT) Price Prediction: Bulls Have Their Backs Against the Wall

Aptos [APT] continued to trend south at press time. The daily RSI revealed that bearish momentum has been persistent since December, with the bearish market structure highlighting caution for the bulls.

Aptos [APT] continued to trade in the red zone at press time. The daily RSI depicted persistent bearish momentum since December, while the bearish market structure warranted caution for the bulls.

The price approached a key support level and the psychological round number level at $5. A price bounce was likely due soon, but could this morph into a trend reversal?

Aptos bulls pinned against the wallAptos lost the bullish order block just above $11 (red box) in mid-December 2024, flipping its market structure bearishly. Any attempts by the buyers to force a recovery were met with failure.

The OBV highlighted one reason for this. Its downtrend since December showed that selling pressure consistently outpaced the buying pressure. The attempted recoveries in the last two months were more liquidity grabs to the upside, before a continuation of the downtrend.

The $5-level began the strong rally last August. While Bitcoin [BTC] was up by 78% since then despite the recent volatility, APT was only 11.87% better off. This lack of relative strength compared to BTC sapped the conviction of bulls and would make a subsequent recovery that much harder.

The 1-month liquidation data showed that the $5.47 and $6.27 levels were the closest magnetic zones of importance. The $5.47 one was closer and hence, APT may be more likely to be drawn toward it.

The 1-week heatmap threw the $5.5 liquidity cluster into sharper relief. The $5.34-$5.5 area was a likely candidate for a short-term bullish reversal. Swing traders could buy a test of this area and target a bounce to $6.3 to take profits.

It would be prudent to take profits more aggressively, given the altcoin-averse market sentiment recently. As for investors, beware. CoinMarketCap data showed that 50% of APT’s total supply is still locked. Unlocks will inflict greater pain for holders unless demand goes up multifold or an altseason ensues.