The cryptocurrency market is under pressure following the November rally, with major altcoins facing significant corrections. Aptos and Sei are among the hardest hit, struggling to hold key support levels.
Aptos: Current Status Analysis
On the weekly chart, Aptos (APT) is forming a double bottom pattern. The recent rejection at $12.06 led to a retracement to its critical support level of $4.57. However, APT remains above $5.80, indicating potential strength. The MACD indicator is showing early bullish signals, suggesting that the bearish momentum is weakening.
Sei: Support Holds Positions
Similar to APT, Sei (SEI) is also forming a double bottom pattern on the weekly chart. After facing rejection at $0.7361, SEI retraced to its major support level of $0.19, yet the cryptocurrency holds above this zone, trading at $0.22. SEI’s MACD indicator mirrors APT’s trend, showing signs of weakening bearish momentum, potentially supporting recovery.
Recovery Potential and Market Factors
Currently, both Aptos and Sei show strength at critical support levels. A successful breakout above their respective neckline resistances could confirm a bullish reversal, leading to significant recovery. However, the overall market sentiment and BTC and ETH price movements will heavily influence these altcoins' future paths.
Despite significant pressure, APT and SEI hold onto crucial support levels. Should market conditions improve, these altcoins could see substantial recovery.
