Aptos (APT) shows potential for a rally toward $16 after bouncing off the descending channel support, according to analyst Jonathan Carter. Technical indicators suggest growing bullish momentum and a possible short-term trend reversal, with the support trendline signaling strong buying pressure.
The Aptos (APT) cryptocurrency is showing promising signs of a rebound after testing the lower boundary of a descending channel. Technical analyst Jonathan Carter highlights that such setups often precede sharp upward movements in crypto markets.
Carter notes that traders are closely watching as the price continues to respect the support trendline, which suggests potential bullish momentum is building. Technical indicators reveal emerging bullish signals for APT, including increased buying pressure and positive momentum trends.
Carter’s analysis indicates the price is currently around $0.897 and eyes potential rallies toward levels of $16. Market participants are watching for a breakout from the descending channel, which could signal a trend change. Historically, price action near strong support zones often triggers explosive rallies.
Several key price levels are being monitored as potential bounce points, including a psychological level at $2.00. Further levels of $4.00 and $10.00 represent increased investor optimism beyond the initial $16 target.
Data from TradingView shows APT in a downtrend, falling from above $1.20 to approximately $0.82. The Relative Strength Index (RSI) has risen from oversold conditions to approximately 51.89, while the Moving Average Convergence Divergence (MACD) shows the signal line above the MACD line with a green histogram, indicating increasing bullish momentum.
