APT Weekly Strategy: $0.90 Key Support; $1.18 Breakout to Target $1.85
APT (APT) traded in a tight $1.01–$1.08 range last week, closing near $1.04 and posting a weekly loss of 2.63%. Technicals show a dominant downtrend: price below EMA20 ($1.29), weekly Supertrend bearish, and MACD histogram negative. Short-term indicators are oversold (RSI ~28–30), suggesting possible accumulation if the $0.90 major support holds. Key decision points: $0.90 (critical multi-timeframe support) and $1.03 (daily value area low). Bull case: hold $1.03 and break $1.18 — recommended long entry ~ $1.05, stop $1.18, target $1.85 (R/R ~3:1) with partial take-profit at $1.38. Bear case: breakdown below $1.03 — short ~ $1.02, stop $1.08, targets $0.90 then $0.22. APT shows high correlation with Bitcoin (~0.85); BTC direction (key levels $74k, $70k, $69.7k) will likely determine altcoin rotation. Risk guidance: maintain small position sizing (max ~2–3%), monitor RSI, volume spikes, MACD crosses and weekly closes for confirmation. This analysis highlights a guarded trading approach: downside risk (to $0.22 if $0.90 fails) is larger than upside unless clear multi-timeframe confluence appears.
Bearish
The analysis points to a prevailing downtrend: APT is below EMA20, weekly Supertrend is bearish, and MACD shows negative momentum. Although RSI is oversold and a $0.90 support offers a possible accumulation pivot, the larger technical picture and high correlation with Bitcoin increase downside risk. Historical patterns show altcoins underperform during BTC dominance increases and macro-driven selloffs; similar setups previously led to extended distribution phases and deep corrections unless clear volume-backed reversals occurred. Short-term trading may see relief rallies if $1.03 holds and volume rises, but absent a decisive breakout above $1.18 and BTC strength, probability favors further weakness — including tests of $0.90 and, if broken, much lower targets. Traders should therefore prioritize tight risk controls, monitor BTC levels and on-chain/derivatives flows, and wait for multi-timeframe confirmation before adding size.