- APT surged by 22.29% on the weekly charts.
Amidst a 148% rise in trading volume, Aptos’ market cap has increased by 10%.
As a seasoned researcher with years of experience in the cryptosphere, I must admit that the recent surge in Aptos [APT] has caught my attention. While Bitcoin [BTC] has been experiencing a downturn, it’s refreshing to see an altcoin like APT defy the odds and report significant gains.
Despite the general downturn in altcoins, APT or Aptos has bucked the trend, registering substantial increases. While Bitcoin [BTC] has seen a major drop, it’s been altcoins that have been hit hardest.
As a seasoned cryptocurrency investor with years of experience under my belt, I have seen countless altcoins rise and fall like waves in the sea. But every now and then, there comes an exception – a coin that defies the general market trends and continues to thrive despite the odds. This time around, it’s APT that has caught my attention.
Apt sees increased demand
For the last month, APT has shown substantial price increases as seen on graphs. Moreover, its trading activity has significantly escalated by approximately 148% within the past day, reaching a volume of $219.8 million at this moment.
Based on data from Coinglass, the trading volume for APT has risen significantly over the past 24 hours, climbing from $66 million to $73 million. This surge suggests a growing interest and excitement in the APT market, as indicated by the positive trends visible on daily charts.
As a researcher observing the cryptocurrency market, I noticed that my focus, Apt, has seen a significant growth in its market capitalization by approximately 10% within the last 24 hours, reaching an impressive $3.022 billion. This upward trend suggests a growing adoption and interest towards APT as the altcoin market endeavors to rebound.
What price charts indicate
Currently, APT is priced at $6.26 following a 7.49% rise in its daily trading. Similarly, Aptos has experienced a 22.29% surge over the past week, building upon a streak of favorable monthly trends.
As a result, Aptos was experiencing a robust short-term surge according to AMBCrypto’s assessment, at the current moment.
In simpler terms, the Chaikin Money Flow (CMF) was showing a value of 0.03, indicating that APT had more demand for buying than selling.
With the buyers dominating, it signals accumulation or a potential continued upward price movement.
Over the last 48 hours, the Relative Strength Index (RSI) has climbed out of the cautious area and now stands near the neutral zone at 51.
Over the last few days, there’s been significant demand for APT from the market, which has generally benefited sellers.
Over the last week, AMBCrypto’s examination of Coinglass data reveals a significant drop in long-positioned liquidations. The peak was at approximately $1.4 million, but it has since fallen to just $101,000.
This reduction showed that investors were willing to pay a premium to hold their positions.
Read Aptos’ [APT] Price Prediction 2024-25
Consequently, over the immediate future, APT experienced a significant surge. Furthermore, the cryptocurrency was buoyed by optimistic market opinions.
If the ongoing market trends persist, the cryptocurrency is expected to test its next resistance at approximately $6.9. Overcoming this resistance could pave the way for a prolonged surge towards $9.8.
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2024-08-13 18:47