Aptos eyes major gains: Can APT trigger a long-term rally?

Aptos broke out of a downtrend with bullish indicators like RSI and MACD suggesting momentum.
Whale accumulation, rising TVL, and increased open interest confirm Aptos’s potential for further gains.

As a seasoned analyst with years of experience navigating the cryptocurrency market, I have seen countless trends come and go. However, Aptos [APT] is one coin that has caught my attention recently due to its impressive breakout from a prolonged downtrend.

It appears that the digital currency APT (Aptos) has managed to break free from its downward trending pattern, suggesting it could be preparing for a substantial upward surge in value.

Analysts anticipate that Aptos could see a significant increase of up to three times its current value, as it approaches the $7.8 resistance level. The question remains: Will Aptos successfully sustain this breakthrough and spark a prolonged surge in its stock price?

Is Aptos primed for a rally? Analyzing price action

Aptos appears to be indicating a bullish turnaround following its breakout from a long-term downtrend. Currently, it’s trading around $7.84, encountering a significant hurdle at the price point of $7.83.

At the current moment, the Relative Strength Index (RSI) technical indicator indicates a strong upward trend, with a reading of 66.88. This figure is slightly under the overbought zone, signaling an increase in purchasing activity, suggesting that buyers are exerting more pressure than sellers at this time.

Furthermore, the Moving Average Convergence Divergence (MACD) chart shows a positive divergence, which suggests that there might be more upward price action ahead, provided the current momentum continues.

Volume surge signals strong market interest

The level of trading activity on Aptos has significantly spiked recently, with trading volume jumping by an impressive 93.71% over the past 24 hours, amounting to a whopping $726.99 million. This increase in volume serves as a strong indication of the validity of price action on this cryptocurrency.

As a crypto investor, I’ve noticed a significant surge in trading signals pointing towards APT, which coincides with its recent price breakout. This alignment suggests that the market might maintain its upward trend.

Is rising TVL pointing to increased adoption?

Total Value Locked (TVL) offers key insights into how much liquidity and trust the market places in a blockchain. For Aptos, TVL has risen sharply, increasing from $916.85 million to $935.86 million in the last 24 hours.

The substantial increase we’re seeing indicates more people are adopting the Aptos network, suggesting strong underlying factors that might drive future price increases.

Are whales accumulating APT?

A significant increase in the proportion of stablecoins owned by wealthy investors (those with over $5 million) has occurred, currently amounting to 55.88%. The buildup of these large holdings, or “whale accumulation,” is frequently a sign that a price rise may follow, since big players have the power to influence market trends.

This trend suggests that major players are taking positions in APT, anticipating future gains.

Growing open interest confirms market momentum

Based on Coinglass data, the value of open interests for Aptos futures has grown by approximately 12.87%, currently standing at $148.45 million as we speak. This surge in open interest combined with price increases suggests that the market is optimistic about Aptos’s continued bullish momentum.

As more and more people involved in both future contracts and immediate purchases express increased interest, it’s expected that APT will experience substantial growth in the upcoming weeks.

Read Aptos’ [APT] Price Prediction 2024-25

Can Aptos maintain the momentum?

As the curiosity about Aptos increases among whales, there’s been a notable surge in Total Value Locked (TVL) and robust trading volume fueling its recent surge. This indicates that Aptos could be on the verge of a substantial, long-term price rise.

However, sustained momentum is critical. If Aptos can maintain this level of market interest, the 3x target may indeed be within reach.

2024-09-22 17:12