Aptos (APT) posted gains of 1.34% over the past 24 hours, thanks to a decent weekly rally of 15.8%. Over the past 24 hours, Bitcoin (BTC) has also performed well, gaining 1.5% while approaching the $90,000 resistance level at press time.
Bitcoin’s price action was likely a combination of technical factors and the impending options expiration on Friday. This could trigger a short-term market-wide rally in the coming days. Will APT bulls benefit or should traders stay on the defensive?
Evaluate the long-term trend of Aptos
Source: APT/USDT on TradingView
In August 2024, Aptos rebounded from the low of $4.32. By the end of the year, the altcoin had reached $15.33. 2025 was supposed to be a golden year for alts, but instead it was a disaster.
The low of $4.32 was given away as support during the 10/10 crash, and the Aptos bulls did not have the strength to hit back at the sellers. At the time of writing, the $1.72 extension level was retested as resistance.
The RSI was rebounding from oversold extremes and the OBV reached lows not seen since 2022. They have shown persistent selling pressure on APT in recent weeks.
Can a Bitcoin Renaissance Help Reverse Aptos’ Downward Trend?
AMBCrypto reported that analysts do not expect a sustained Bitcoin uptrend from here. At best, expectations were for a rebound towards $100,000 and perhaps up to $112,000, driven by liquidity.
The accumulation of whales is encouraging, but it may not be enough to stop the downward trend. This means that traders can look for a short-term rebound, but should not expect the long-term downtrend to reverse.
Trader Call to Action – Trade the Range, Stay Bearish
Source: APT/USDT on TradingView
The lower time frame chart shows a range formation between $1.56 and $1.69. Traders can use the extremes of this range to enter, targeting the opposite extreme. A break beyond $1.7 and a retest would likely result in a move towards $1.9-$2.
A break below $1.56 would be a sign of a continuation of the downtrend.
Final Thoughts
- Aptos could see a slight price rebound towards $2 if Bitcoin manages to climb to $100,000 or more.
- An Aptos rally may not last long, given the strong long-term downtrend and lack of buying pressure over the past few weeks.
Disclaimer: The information presented does not constitute financial, investment, business or other advice and represents the opinion of the author only.
