DOT and APT Approach Falling Wedge Resistance – Could Breakouts Spark a Recovery?
Date: Tue, February 11, 2025 | 07:53 AM GMT
The cryptocurrency market is showing signs of recovery today, with major altcoins turning green after weeks of correction. Bitcoin dominance has declined by 0.67% today to 61.15%, pushing the market for a rebound today.
Among them, Polkadot (DOT) and Aptos (APT) are showing notable signs of recovery. DOT has surged 6.50%, while APT is up by over 2%, both reclaiming key support levels after suffering a 30-day correction of over 23% and 29%, respectively.
![DOT and APT Approach Falling Wedge Resistance – Could Breakouts Spark a Recovery? image 0](https://img.bgstatic.com/multiLang/image/social/6aedea7a0cb4b297223f810927a67d231739312533976.png)
Polkadot (DOT)
DOT’s daily chart forms a falling wedge pattern, a bullish structure that typically signals an impending breakout. After facing rejection from its December 4 high of $11.65, DOT entered a prolonged downtrend, eventually hitting a low of $3.76 before finding strong support.
![DOT and APT Approach Falling Wedge Resistance – Could Breakouts Spark a Recovery? image 1](https://img.bgstatic.com/multiLang/image/social/493471fe70e8b6d5d008e340d6ddd9a41739312534179.png)
DOT is currently trading at $5.17, facing resistance at the 15-day moving average (MA). If DOT breaks above this resistance, it could rally towards the upper wedge boundary. A decisive move past $6.49 could confirm a bullish trend, potentially paving the way for further gains to resistance of $6.49.
Aptos (APT)
APT is also following a falling wedge pattern, with its price recently bouncing off the lower trendline support around $4.55. Currently, APT is trading at $6.34, nearing the wedge’s upper resistance.
![DOT and APT Approach Falling Wedge Resistance – Could Breakouts Spark a Recovery? image 2](https://img.bgstatic.com/multiLang/image/social/d369d6be52b837b6e56e7fb66067ca391739312534368.png)
If APT can break above its 15-day SMA, it could trigger a retest with the upper boundary of the wedge. A breakout from this formation with a retest would significantly increase the likelihood of a sustained recovery towards the first resistance level of $8.41.
The MACD is turning positive, indicating a potential bullish shift.
Final Thoughts
Both DOT and APT are nearing critical resistance levels within their falling wedge patterns. If breakouts occur, they could spark a larger recovery trend and potentially lead to a double-digit percentage rally in the coming weeks. However, failure to break these levels could mean further consolidation or a possible retest of lower supports.
Traders should keep a close eye on these key resistance levels to determine whether the breakout signals a true reversal or just another temporary bounce
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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