- The cryptocurrency market recovered today after yesterday's sell-off, but faced fresh volatility following Trump's announcement of a 25% tariff on the European Union.
- Aptos (APT) broke out of a falling wedge pattern on February 19, reached $7.06, then successfully retested support at $5.05 before rebounding to $5.68.
- Pyth Network (PYTH) also broke out of a falling wedge on February 20, hit $0.2580, retested support at $0.19, and is now trading around $0.2060.
- If both tokens clear their immediate resistance levels, APT could target $8.41 (46% upside) while PYTH could reach $0.3260 (66% upside).
Date: Wed, February 26, 2025 | 06:00 PM GMT
The cryptocurrency market witnessed a strong recovery today after suffering a sharp sell-off yesterday. However, this rebound was briefly interrupted following U.S. President Donald Trump’s announcement of a 25% tariff on the European Union, adding a fresh wave of volatility to financial markets.
Despite the turbulence, two top altcoins, Aptos (APT) and Pyth Network (PYTH), have managed to stay in the green. Both tokens have successfully retested key breakout levels, hinting at a potential upside continuation in the coming days.
Aptos (APT)
Aptos (APT) recently broke out of a falling wedge pattern that had kept its price in a downward trend for weeks. The breakout occurred on February 19 when APT surged past the wedge’s upper boundary and reached a local high of $7.06. However, as is common with breakouts, the price pulled back to retest its previous resistance-turned-support level near $5.05.
This support zone has proven to be strong, with buyers stepping in to prevent further downside. The token has since rebounded and is currently trading around $5.68. It is now approaching its next major resistance at $7.06, which aligns with the 50-day moving average.
If Aptos manages to break through this level, it could gain enough momentum to reach its next key target at $8.41, marking a 46% increase from current levels.
Pyth Network (PYTH)
Just like Aptos, Pyth Network (PYTH) also experienced a breakout from a falling wedge pattern, signaling the end of its prolonged downtrend. The breakout took place on February 20, pushing PYTH to a local high of $0.2580 before hitting resistance.
Following the breakout, PYTH retraced to $0.19, where it found strong support. The token has since bounced back and is currently trading around $0.2060. Now, it faces a crucial test at $0.2580, its previous high and an important resistance level.
If PYTH successfully breaks above this level and reclaims its 50-day moving average, it could open the door for a rally toward $0.3260, which represents a 66% upside from its current price.
Final Thoughts
Both Aptos and Pyth Network have successfully broken out and retested their previous resistance levels, confirming the strength of these moves. If they manage to clear their immediate resistances and reclaim key moving averages, a more significant bullish momentum could unfold.
However, uncertainty remains high following the recent U.S. tariff announcement, which could impact crypto and traditional markets in the short term. Investors should closely monitor market reactions while keeping an eye on whether APT and PYTH can sustain their breakouts and move toward their next key targets.
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