Aptos Price Forecast: This key level will determine if APT will rally 20% or crash 40%
- Aptos price consolidates below the $13.50 resistance level, showing an ambiguous outlook.
- A flip of this level could trigger an 18% upswing to 16.
- Rejection at $13.50 could result in a 40% downswing to $8.10.
Aptos price lacks directional bias as it consolidates below a critical hurdle. This level is key in determining where APT will head next. Investors need to wait for confirmation before making their decision.
Also read: Can Aptos price pull off a 50% upswing after deep retracement?
Aptos price at crossroads
Aptos price rallied 554% between December 30, 2022, and January 26, 2023. This massive uptrend set up a local top at $20.40, resulting in a reversal that pushed APT down by 52%.
As the initial sell-off cool down and profit-taking ceased, sidelined buyers stepped in and triggered a 50% ascent but failed to close above the $13.50 hurdle.
As Aptos price hovers below the aforementioned resistance level, investors need to be cautious of a sudden pump due to the United States Federal Reserve’s interest rate decision and Federal Open Market Committee (FOMC) meeting set to take place on March 22.
Investors need to wait for the volatility triggered by these events to subside before taking a stance. A flip of the $13.50 hurdle could result in an 18% northbound move, followed by a retest of the $16 hurdle.
APT/USDT 1-day chart
The bullish outlook makes sense for investors expecting an alt season soon. However, if the macroeconomic event triggers a selloff for risk-on assets like Bitcoin and stocks, Aptos price could follow suit.
Rejection at $13.50 could catalyze a 40% crash in Aptos price to tag the $8.10 level.
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
