Technical analysis by SherrySOC about Symbol APT: Buy recommendation (12/21/2024)

APT/USDT is currently trading within an ascending channel on the daily timeframe, with the price holding at $10.62, showing a slight dip today. The chart reflects a well-maintained trend within the channel, where the price consistently respects both the upper resistance and lower support levels.One key area to watch is the range around $7.53 to $8.00. This zone acts as a critical support level, and holding above it will be essential to maintain the bullish channel structure. If this level fails, there’s a risk of further downside, possibly breaking the channel and targeting lower levels around $6 or even below.On the flip side, the current position near the channel's lower boundary presents a potential buying opportunity. If this support holds, there’s a chance for a rebound toward the midline or even the upper boundary, which could push the price back to $12 or higher. The declining volume during this downtrend might hint at weakening selling pressure, which could support a recovery.For now, it’s all about observing how APT reacts to the lower boundary and the highlighted support zone. A bounce here could reaffirm the bullish structure, while a break below might signal a shift in momentum. Let me know what you think about this setup and where you see APT heading!Sherry on crypto