Aptos APTastrophe? 📉

Aptos: Lost in the Wastelands

Two weeks it has wallowed, sinking to depths unseen in two years, below even the pathetic $4 mark.
Since 2023, it pranced within the $5.45-$17 range, clinging to those Macro Range lows until March’s cruel corrections.
Now, it’s just another coin in the beggar’s cup.

Twice before, it flirted with these levels, but alas, last month it dared to close below its Macro Range for the first time.
Rekt Capital, a name as ironic as it is apt, notes that it has historically built bases around these levels, “in the form of downside wicks for three-month periods.”
Oh, the poetry of decline! 🎭

Amidst April’s fleeting recovery, this Rekt fellow prattled on about a lower timeframe bullish divergence, a Relative Strength Index forming Higher Lows despite the downside deviation.
A divergence from reality, more like!
He even warned of “the dangers of a higher timeframe bearish retest.” As if we needed a warning to see a drowning man sink. 🏊‍♂️

Since then, Aptos has obediently “followed through on that bearish retest,” like a dog returning to its vomit, and rejected from the previous Macro Range Low, treating it as resistance.
A 26% plunge to the $3.9 support followed, where it “found some liquidity” and bounced to the $4.2-$4.5 range. A pathetic flutter before the final fall. 🍂

“However, still, the confirmation for a trend reversal isn’t there just yet,” he drones on, adding that Aptos must reclaim the Macro Range Lows or risk further bleeding.
As if there’s any blood left to bleed! 🧛‍♂️

APT needs to reclaim the $5.44 Range Low level as support to confirm that it is ready to resynchronise with its prior range and try to position itself to challenge for higher prices. Without that confirmation, the risk is a little bit too steep because APT is in the middle of no man’s land.

Until then, “it will be important to watch out for signs of mounting strength in the meantime,” the analyst adds. Signs of strength?
Look closer, friend, and you’ll see only the flicker of a dying ember. 🔥

APT Party: Cancelled Due to Lack of Enthusiasm (and Funds)

Similarly, Sjuul from AltCryptoGems, a name as sparkling as fool’s gold, considers that there will be “no party on APT” until it reclaims the $5 resistance.
A party? With this corpse? Preposterous! 🤡

“As long as we stay below the $5 level, unfortunately, it’s just a bearish retest,” he asserts. Meanwhile, another market watcher points out that APT has been moving within a falling wedge pattern for the past five months, with a breakout “imminent.”
Imminent like the heat death of the universe! 🌌

However, the analyst affirms that this week’s performance could determine whether the pattern will break out, as it needs to reclaim the $5 resistance and surge above $5.4.
Hope springs eternal in the breast of fools, I suppose. 🌷

Rekt Capital (again!) notes that Aptos has revisited the 35 Relative Strength Index (RSI) during its recent performance, “which has historically been a key region in facilitating basing periods from which price would reverse to the upside over time.”
Historically? As if history ever repeats itself in this chaotic casino! 🎰

With APT at this level, the RSI would need to break its multi-week RSI Downtrend to “confirm a sign of emerging strength in price, building out a bottoming-out area here. Until then, it is a waiting game for the most part.”
A waiting game for the Grim Reaper, more like! 💀

As of this writing, APT trades at $4.5, a 1% decline in the daily timeframe. A single percent? Don’t insult me with such meager numbers! This is a tragedy, not a trifle! 🎭