The minor recovery in the cryptocurrency market in recent days has revived short-term hopes in some altcoins. One of the prominent names of this movement was Aptos, which rose 1.34 percent in the last 24 hours and showed a strong performance of 15.8 percent on a weekly basis. However, the fact that the price is still in a long-term downward trend raises questions about the permanence of this rise. In particular, the $1.72 level stands out as a critical resistance point that investors watch closely.
Short-Term Recovery Faces Long-Term Pressure
Aptos price started to follow a downward trend after losing its main support at $4.32 during the sharp market crash in October. The current rise is technically considered a “reaction rally”. Although the recovery of the Relative Strength Index (RSI) from the oversold region indicates short-term buying appetite, the decline of the On-Balance Volume (OBV) indicator to 2022 levels reveals that selling pressure is still strong.
In the short term, the price appears to be stuck between $1.56 and $1.69. Although this band offers buy-sell opportunities for traders, there is no clear signal that the trend has changed direction yet. In case of a permanent break above $ 1.70, the $ 1.90-2.00 band can be targeted. In the opposite scenario, below $1.56 may trigger new declines.
Bitcoin Effect and Other Developments in the Market
Aptos’ price movements remain largely tied to the course of Bitcoin. The fact that Bitcoin increased by 1.5 percent in the last 24 hours and approached the level of 90 thousand dollars created a short-term relief in the altcoin market. According to analysts, the upcoming Bitcoin option expiration could increase market-wide volatility and create a short-term bullish wave.
On the other hand, another notable development in the crypto market was the increasing transaction volumes on the Solana network. The shift in interest in memecoin projects to the Solana ecosystem in recent weeks is causing investor capital to move away from other Layer-1 projects such as Aptos. This situation is considered as a factor that complicates the recovery process of Aptos.
In the long term, the Move programming language offered by Aptos and its scalability claim continue to make the project technically strong. However, on-chain data points to a decline in transaction volume and developer activity in recent months. This chart shows that a strong trend reversal requires improvement not only on the technical side but also on the fundamental side.
In other words, the recent rise in Aptos price can be considered as a technical relief that came at a time when the market was completely collapsed. Short-term movements from Bitcoin could push the price higher, but current data does not confirm that the long-term downtrend is over. Therefore, it seems healthier for investors to focus on risk management and conduct short-term transactions cautiously, rather than waiting for a permanent trend reversal.
