TradeCityPro | APT: Triangle Squeeze Near Crucial Support Zone

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👋 Welcome to TradeCity Pro!
In this analysis, I’ll be reviewing the APT coin. The Aptos project is one of Ethereum’s Layer 2 solutions.

✔️ This project’s token currently holds a market cap of $3.1 billion and ranks 32nd on CoinMarketCap.

📅 Daily Timeframe
On the daily chart, you can see a very strong support level at 4.718, which has been tested multiple times. The price has once again reached this zone.

💥 A descending trendline can also be drawn, showing clear reactions from the price. The area between this trendline and the 4.718 support forms a triangle pattern.

⭐ If the 4.718 support breaks, a short position could be considered. A breakdown below 37.78 on the RSI would serve as strong confirmation of bearish momentum.

📉 The initial target for the short would be 4.338. However, if a new bearish leg forms and the market heads toward lower lows, a drop toward the 3.12 support level is also possible.

📊 Confirmation of a bullish reversal would come from a breakout above the descending trendline. If this trendline is broken and the 6.152 trigger activates, it would justify opening a long position or even buying in the spot market.

🛒 When it comes to spot purchases, the most important factor is a trend reversal in Bitcoin dominance. Personally, I do not buy any altcoins on spot until Bitcoin dominance shifts downward on the daily chart — I only trade them in futures.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️

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