On January 27, 2025, investor confidence in the altcoin market is notably low, as reflected in the performance of Aptos (APT), which has seen a decline to approximately $8.13, marking a nearly 2% drop in the past 24 hours. The token, which peaked above $10 in early January, has struggled to maintain upward momentum and is currently at risk of a significant correction.
Prominent crypto analyst Ali Martinez has highlighted a bearish setup for Aptos, indicating that a head-and-shoulders pattern on the 12-hour chart suggests a potential price drop. If APT breaks below the key support level at $8, it could plummet to $4.30, representing a nearly 50% decline. Conversely, a sustained close above $10.50 could invalidate this bearish outlook.
In the last week, Aptos has experienced a decline of over 11%, reflecting broader market trends that indicate a slump in altcoin investor confidence.