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.
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.
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Horban Brothers - Innovative finance. Join our journey:
Telegram Channel: t.me/horbanbrothers
X: x.com/HorbanBrothers
Telegram Channel: t.me/horbanbrothers
X: x.com/HorbanBrothers
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.