TradeCityPro | APT: Daily Trend Breaks and Bottom Forming
2025-01-01
Category: None

👋 Welcome to TradeCityPro!
In this analysis, I will examine the APT coin, the primary coin of the APTOS network, which is one of Ethereum's second-layer networks. This analysis will be conducted in the daily timeframe.

📅 Daily Timeframe: Breaking the Curved Trend Line and the First Bearish Leg In the daily timeframe, we are witnessing a strong upward trend that started from the $4.89 area with a curved ascending trend line up to $14.75. This trend line supported the price three times but finally broke on the last contact, initiating the start of a bearish wave from this trend line break.

📊 After the price reached the peak of $14.75, the market volume gradually decreased, and after forming a lower high and breaking the curved ascending trend line, the market momentum shifted and the bearish phase began.

🔽 The main correction trigger after the trend line break was the break of $11.28, which coincided with the 0.236 Fibonacci level, making this area a strong Potential Reversal Zone (PRZ). However, the bearish volume and momentum were strong enough to break this support.

🔍 Currently, the price is attempting to round off and form a bottom. It's also the Christmas holiday season, and the market volume has decreased, which could make it easier for whales and holders of this coin to facilitate bottom formation. Additionally, the price has reached the golden Fibonacci zone between 0.5 and 0.618, which could significantly influence the end of the correction and the continuation of the upward trend.

🧩 The RSI oscillator is also in a critical and interesting area. If it stabilizes below 30 and enters the Oversell region, there might be panic in the market, potentially leading to a sharp drop. For the continuation of the upward trend and a new bullish leg, the RSI needs to rise above the 50 area to introduce momentum into the market.

📉 If further correction occurs, the next support level is at $7.51, and in the event of panic and sharp declines, the next support would be at $4.89.

🔼 For long positions, if the momentum changes, the market will create a new structure and provide triggers, but currently, the only triggers are at $11.28 and $14.75. The next resistance will be at $17.96.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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