APT Technical Analysis
Analyzing APT chart, we see that the descending channel pattern is still active. The price of the coin bounced from the level $4.06 and climbed to the middle border of the channel, and it is currently trading around $4.53, and there is a positive outlook in the mid-term.
It is important that the price should hold above the level $4.44. If it does so, the first target ahead would be the resistance level $4.93. It is likely that APT will surge to the area between the levels $5.10 and $5.60 – upper border of the channel – if it can see daily closings above $4.93.
Providing that the channel breaks with strong volume, the technical target extends upward by the height of the channel. According to this scenario, there is mid-term potential reaching the $6.18 → $6.39 → $7.10 levels. The ultimate target at $8.40 still remains valid.
According to a bearish scenario, the $4.06 level stands as a key support. If this support is lost, the price may pull back to the lower border of the channel around the level $3.80, and possibly even to $3.30.
Summary:
- Current price is around $4.53
- It is considered positive if it holds above $4.44
- The first price target is $4.93, then $5.10–$5.60 zone
- In case of a breakout, the targets are $6.18 → $6.39 → $7.10
- Main target level is $8.40
- Below $4.06, $3.80–$3.30 is possible
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, traders are responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during trades.
