Amid the market retrace, Aptos (APT) has seen an 8% decline in the past 24 hours, falling below a key support zone for the second time this week. Despite the correction, some analysts consider that the cryptocurrency could be poised for a breakout soon.<\/p>\n
During the March retraces, Aptos fell below a crucial support level for the first time since August 2024 but recovered 24% near the end of the month. However, APT followed the rest of the market and dumped 11% to close the March below key levels.<\/p>\n
Analyst Rekt Capital noted<\/a> that APT closed last month below its Macro Range Low of $5.44 for the first time. The cryptocurrency has been trading within the $5.45-$17 price range since 2023, retesting the range lows two times before.<\/p>\n Historically, \u201cAPT tends to develop bases here in the form of downside wicks for three-month periods,\u201d he explained, adding that the cryptocurrency seems to be developing a third three-month base, with the difference that it has closed below this range for the first time in the monthly timeframe.<\/p>\n Following this performance, Aptos will need to reclaim the $5.44 level as support \u201cto end this Monthly close as a downside deviation\u201d and \u201cavoid a bearish retest here.\u201d<\/p>\n Previously, the analyst suggested<\/a> that holding this level could reverse ATP\u2019s price action in the coming months, as it has done with the other clusters. Additionally, he pointed out the previous consolidations included a \u201cdownside wicking below support.\u201d<\/p>\n In his recent analysis, Rekt Capital considers that APT\u2019s daily bullish divergence \u201cis still something worth watching\u201d as the cryptocurrency\u2019s Relative Strength Index (RSI) continues<\/a> to form Higher Lows despite the recent downside deviation, and its price \u201cis trying to transition away from Lower Lows into a new Higher Low.\u201d<\/p>\n According to the analyst, \u201ca clear market structure is developing here, and a breakout from it would validate the Bull Div and set APT up for a reclaim of the Macro Range Low of $5.44,\u201d which is key for a bullish rally.<\/p>\n Analyst Sjuul from AltCryptoGems highlighted<\/a> Aptos\u2019 strength amid the market volatility, which saw Bitcoin (BTC) drop from $88,000 to $81,000 in the past 24 hours. APT dropped from the $5.40 mark to the $4.95 support.<\/p>\n The analyst considers that a retest of the local range lows could be necessary before the cryptocurrency aims for the next crucial level, as the current price zone has been tested many times.<\/p>\n Moreover, a reclaim of the $5.44 range could see the APT surge another 20% to the $6.5 resistance lost two months ago. Another market watcher suggested<\/a> that Aptos is \u201cshowing potential for a bullish breakout as it trades within a descending channel.\u201d<\/p>\nAPT To Reclaim $6.5 Resistance?<\/h2>\n