Date: Wed, March 26, 2025 | 04:26 PM GMT
The cryptocurrency market is showing minor signs of a rebound as Ethereum (ETH) pushes back above $2,000. This has provided much-needed relief to altcoins that suffered sharp corrections following the late 2024 rallies.
As sentiment gradually improves, Aptos (APT) is gaining traction, surging over 6% in the past week. A recent technical analysis suggests that a potential rebound is in progress, which could erase its 90-day-long heavy correction and lead to a strong price recovery.
Bullish Gartley Pattern Signals Potential Upside
According to renowned crypto analyst Shelby, APT has been in a sharp downtrend since reaching its peak at $10.71 on January 7. The token saw a significant price drop, eventually forming what appears to be a Bullish Gartley Pattern, a widely recognized harmonic structure that signals a potential reversal.
The chart (see below) clearly illustrates APT’s X-A-B-C-D formation, with the D-point aligning near a key Fibonacci retracement level. This zone often acts as a strong support and potential reversal area.
Currently, APT is trading around $6, rebounding from the $5.0 support level, which coincides with the expected C-D leg completion of the pattern. This suggests that APT might be gearing up for an upward move in the coming weeks.
Shelby notes that if APT follows the typical behavior of a Gartley pattern breakout, the first major resistance stands near $7.00, followed by a more significant target in the $9.00–$11.00 range. This price region is marked as a potential profit-taking zone for traders eyeing a bullish move.
Additionally, the Relative Strength Index (RSI) is climbing steadily, indicating improving momentum in favor of the bulls. If buying pressure continues, a breakout from the D-point resistance could confirm the bullish reversal, sending APT on a potential rally toward double-digit prices once again.
Final Thoughts
APT’s current price structure aligns well with the Bullish Gartley Pattern, suggesting that the token is at a critical turning point. With improving sentiment in the broader market and key technical indicators flashing bullish signals, Aptos could be gearing up for a strong comeback. However, a breakout above key resistance levels is necessary to confirm the reversal. Traders should watch for price action around $7.00 and $9.00 to assess the momentum.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.