The cryptocurrency Aptos (APT) is currently testing the support level at $5.45, identified as the 'Macro Range Low' by analyst Rekt Capital.
Bullish Divergence at Critical Support Level
The technical structure forming at the $5.45 level shows the emergence of a bullish divergence on the daily timeframe, characterized by higher lows in RSI against lower price lows. This pattern may indicate a repeat of past successful support retests.
'Out of the three macro bottoms at this Macro Range Low dating to September 2023, APT has produced two bullish divergences, which preceded reversal to the upside,' notes Rekt Capital.
Current price action suggests that this is the second time a bullish divergence might precede an upward trend from this historical demand area.
Three-Month Retest Pattern
Despite APT's recent 15% rise from the macro level, analyst Rekt Capital warns that the support retest may not be complete. Historically, Aptos undergoes three-month retest events, with the current being only in its second month.
'Historically, APT tends to produce retesting events at the macro range low that last approximately three months,' explains the analyst.
These fluctuations align with previous consolidation patterns that eventually lead to stronger upward movements.
Monthly Close as a Critical Point
The final confirmation of APT's success in defending its critical support will come with the monthly candle close. This timeframe is particularly significant as it filters out short-term noise, providing a clearer view of the trend.
'A monthly close like this would confirm that APT has successfully retested the Macro Range Low as support,' emphasizes Rekt Capital.
Completing the month above $5.45 will signal buyers' successful defense of the support zone and strengthen the foundation for further recovery.
The period before the monthly close will be crucial for determining APT's medium-term direction. Holding above support will indicate a continuing bullish scenario.
