Aptos Hits All-Time Highs, Still, Shows No Signs Of Stopping

On January 22, the trading price of Aptos (APT) managed to hit an all-time high, sending a wave of joy across the APT community.

Just as the trading price of the asset hit an all-time high, the analysts started bracing for the reverse impact. They speculated that the trading price of the asset may start experiencing a decline.

There were predictions that the trading price of the asset could decrease substantially after hitting an all-time high.

Still, things proved to be quite promising for APT and the situation has worked out in favor of the community.

APT’s January Price Movement

It was on January 6 when the trading price of APT managed to break past the resistance line that was pointing in the descending channel.

At that time, the trading price of the asset was not in the highs but lows. The chart shows that the trading price of the asset was at a low of $3.06.

However, as the price broke out from the downward resistance line, it was an indication that the asset was getting ready to take a long flight.

From that point, the trading price of the asset kept climbing and it kept reaching newer targets. On January 20, the trading price APT was able to make it closer to the $9.80 resistance level.

However, the analysts thought that the bears would challenge the bears in the particular area and drag them downwards.

Fortunately, the bulls were packing extra firepower, which allowed them to keep the rally going. As they kept injecting more buying force, the trading price of APT kept surging.

On the same day, the trading price of APT managed to breach the high resistance level and it was over the $9.80 resistance zone.

APT Hit an All-Time High

Just when there were speculations that the asset was going to crash in terms of its value, it did the completely unthinkable.

Just two days after crossing the resistance area, the trading price of the asset reached an all-time high. The value of the asset managed to hit an all-time high price of $14.57 per APT.

Even now, the trading price of the asset is hovering around the all-time high figure. However, the recent sessions have managed to form two long upper wicks.

These wicks are usually an indication of selling pressure, which means that the investors would start selling APT at this level.

If that happens, then it would mean that the trading price of the asset is undergoing its correction phase.

Upcoming Resistance Levels for APT

If the selling pressure does not build up, then APT will have another opportunity to be pushed higher. This would mean that the trading price of the asset would continue surging.

However, as the price of APT surges, the situation will continue to become more challenging for investors. The buyers will have to increase their buying power to push APT up to and past the resistance level.

The next resistance for the bulls is going to be at $14.84 per APT. If the bulls do manage to make it past the particular level, then the price of the asset may continue rising.

The trend may become more promising for APT than before and more investors may join the rally. This could help push the trading price of the asset to a high of $22.15.

Rejection and fall to $9.80

Although there are indications, it is highly unlikely that the price of APT may start moving in a downward direction.

However, if the situation does become unfavorable for APT, and it starts moving lower, the first support level would be at around $13.20.

From there, the second strong support level for APT would be $10.00. If the bears manage to bring it below the $10 mark, then they will be able to bring it down to the third support level at $9.80.