Aptos (APT) is among the few cryptocurrencies in the crypto market which witnessed a meteoric rise in recent times. Following a staggering rise of nearly 400% since the beginning of 2023, the Aptos token appears to have reversed its course in February; falling by over 30% from its peak of $20 on January 30.
APTOS (APT) Price Breakout
The altcoin has seen a roller-coaster ride since its introduction and currently boasts a market cap of $2.3 billion. However, few crypto experts are of the opinion that the token is poised for an upward rally and could see new all-time highs in the coming days.
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According to an analysis that was released recently by cryptocurrency expert Nebraskan Gooner, APT’s price is on the verge of a significant breakout as it currently rests on support. If the resistance level is broken, there is the potential for a significant price gain for the flagship cryptocurrency. Moreover, he hints at a developing inverse head and shoulders pattern that can turn out to be bullish for the new blockchain protocol.
Added #APT to my watch list for tomorrow. Hopefully it hasn’t already mooned by then. Sitting right at support pic.twitter.com/vWqSDBaGHB
— Nebraskangooner (@Nebraskangooner) February 19, 2023
APT Price To Set New High?
Matthew Dixon, who serves as CEO of Evai, has also shared a viewpoint that is analogous to Gooner’s. His research indicates that the favorable prognosis for APT has not shifted, therefore he will maintain his long position on the token even though it has been a while since he last traded it. A new record high for APTOS is still anticipated by the analyst, despite the fact that the move from the top down appears to be corrective.
Again, just a reproduction of my old chart on #APTOS The outlook hasn’t changed and I am still long this token. The move from the top down appears corrective and so, as the arrow indicates, I still expect a new $APTOS high and that’s what im trading for! #Evai pic.twitter.com/1VqKZ3dNXB
— Matthew Dixon – CEO Evai (@mdtrade) February 19, 2023
In response to a question about whether or not APTOS may reach $25, Dixon indicated that while the possibility exists, he likes to take profits on a more conservative basis rather than trying to push it to its limit. As things stand, the price of Aptos (APT) is currently trading at $14.23 which represents a decrease of 1.57% over the past 24 hours, in contrast to a gain of 4.31% over the last seven days.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
