The price of $APT, which has been under significant pressure due to upcoming key unlocks, remained relatively inexpensive compared to other coins during the recent months’ surges. On February 11th, a key unlock of $226 million occurred, and another unlock of the same amount is scheduled for March 13th. It is expected that after these key unlocks are completed, there will be a positive impact on the price, and the pressure on the coin is anticipated to decrease.
When we analyze $APT technically:
It seems to have currently broken the descending trend structure. After the trend breakout and a confirmed closing, if it manages to surpass the horizontal resistance at $9.25, we anticipate the price to move upwards. If $BTC experiences a horizontal movement, $APT may accelerate within this space
When we examine it on a higher time frame:
After the trend breakout, the first major resistance will be at $9.47. Although there was a previous breakout above this level, it turned out to be a fake breakout. This resistance, which represents the last significant support zone, will be a crucial level. In general, if the market experiences a pullback, we expect $APT to find support around $8.44.
The analyses shared here are not investment advice; however, they are considered as potential short to medium-term trading opportunities in the market, indicating support and resistance levels. The responsibility for trading decisions and risk management lies with the user. It is strongly recommended to use stop-loss orders in the trades shared.