The post Aptos Faces Final Drop Before Market Recovery, Analyst Predicts Future Trend appeared on BitcoinEthereumNews.com.

Analyst Alan Santana predicts one final strong drop for Aptos before a market rebound occurs. Two months of consolidation suggest Aptos could hold key support during the upcoming market shift. Alan Santana, a famous crypto analyst, has published an analysis on TradingView that offers light on the future trajectory of the Aptos token, APT. Santana claims that Aptos most certainly finished its last upward movement and that October 22 marks a noteworthy occurrence. This date marks the end of the wave and suggests an approaching decline by the development of a long upper wick. Santana said this kind of trend usually results from the market getting ready for a major change. “Every time a wave reaches its end, there usually is one final shakeout, a strong wick, or something unusual to complete the move,” he observed in his research. Support Levels Under Pressure as Traders Behavior Shapes The Aptos Next Move  As reflected by a dip in price right after October 22 and changing volume levels, the fall is already in motion. Santana also points out that APT had a similar wick in August, where the stock briefly dropped below a crucial support level but closed higher finally. Source: Alan Santana on TradingView This history of great support implies that the present level, which has maintained for more than two months, could be able to resist the next downtrend. The analyst cautioned, though, that under continuous pressure the support can still break. “If the mark is truly weak, it can break, but this would call for multiple challenges of support. Given our expected quick drop, this is most certainly our low,” he said. Santana also underlined the behavior of traders as another important element. The degree of activity of leveraged traders and purchasers would affect the dynamics of the market.…

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Filed under: News - @ October 27, 2024 11:08 am