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Technical analysis by horbanbrothers about Symbol APT: Buy recommendation (3/8/2025)

https://sahmeto.com/message/3303487
horbanbrothers
horbanbrothers
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Buy،Technical،horbanbrothers

Aptos (APT) is currently exhibiting a descending wedge pattern on the daily chart, characterized by converging trendlines that slope downward, typically signaling a potential bullish reversal upon breakout. Concurrently, Bitwise Asset Management has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tracking APT. This regulatory filing underscores growing institutional interest in the asset and could enhance liquidity, market exposure, and investor confidence if approved. From a technical perspective, the Relative Strength Index (RSI) on the daily timeframe has formed a bullish divergence, with the price establishing lower lows while the RSI (14-period) prints higher lows. This discrepancy suggests weakening bearish momentum and strengthens the likelihood of a price reversal. Collectively, these factors position APT for a potential resurgence towards recent resistance levels, aligning with the projected breakout from the wedge pattern. The combination of favorable technical indicators and the prospect of ETF-driven capital inflows presents a constructive outlook for APT in the near term.Alex Kostenich,Horban Brothers.Higher!

Translated from: English
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Signal Type: Buy
Time Frame:
1 day
Profit Target:
$15
Stop Loss Price
$5
Price at Publish Time:
$5.91
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