The cryptocurrency market is experiencing a sharp downturn: Bitcoin has fallen below $90,000, and Ethereum is down by 9%. The altcoin market, including Aptos and Sei, is also seeing losses.
Aptos (APT) Analysis
APT’s weekly chart suggests a double bottom formation after rejecting the $12.06 resistance in early December 2024. The price revisited its critical support range at $5.0 and is trading at $5.44. Despite today’s bearish momentum, APT holds the key support zone, indicating strong demand. The MACD indicator shows early bullish signs, and if APT gains momentum, a rally toward the $12.06 neckline might occur.
Sei (SEI) Analysis
SEI mirrors APT’s potential double bottom at a crucial support level between $0.19 and $0.24. Initially rejected from its $0.7361 resistance in December 2024, the price faced a steep decline. Buyers consistently defend this support zone, suggesting a possible reversal. SEI’s MACD indicates fading bearish momentum, and if sustained, a move toward the $0.7361 resistance is possible.
Potential Reversal
Both APT and SEI remain in a critical zone. The double bottom structure suggests that holding their key supports might lead to a bounce. However, broader market sentiment, especially Bitcoin and Ethereum’s stability, will confirm any bullish reversal. Stable BTC and ETH could attract more buyers to APT and SEI, potentially leading to breakouts.
APT and SEI could witness a strong bullish trend if they maintain support. Their movement depends on market changes and BTC and ETH’s stability. Traders should closely monitor the situation.
