- Aptos broke higher lows, with $13.27 resistance and a $16-$17 target on the horizon.
- The metrics supported bullish momentum for Aptos’ next move.
As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset markets, I find myself intrigued by the promising trajectory of Aptos [APT]. The token has shown resilience and potential, consistently demonstrating higher lows and strong demand at critical support levels.
Aptos (APT) is garnering interest as its cost consistently hovers over an important support point at around $10.70. This significant level, recognized as crucial for further progress, has been repeatedly tested and demonstrated to be a robust zone of demand.
After bouncing back from this area, APT has created higher bottoms, suggesting a possible transition towards increasing bullish energy.
As I write this, I observe that Aptos is currently being traded at around $12.64. This represents a significant jump of 4.44% within the past day, and a more substantial increase of 8.85% over the last seven days.
Resistance at $13.27 and targets above
In simpler terms, the price of APT may encounter significant opposition around $13.27, a point where it has previously been turned down. This resistance is also in line with past weak spots and serves as an important benchmark for bulls aiming to regain control.
Overcoming the current resistance suggests a build-up of positive market momentum, which could lead to additional price increases.
Crypto expert Michael van de Poppe predicts that the price of APT could potentially reach between $16 and $17 in the near future.
The trading environment is becoming more dynamic, and the landscape surrounding $APT is expanding as well. Currently holding steady at this significant level, it seems likely that we’ll discover additional prospects within their ecosystem in the time to come. My prediction is that the price could soon reach between $16 and $17.
A move to this range would represent a 26%-34% upside from current levels.
Technical indicators suggest bullish momentum
As a researcher analyzing the APT/USDT chart, I’m observing a promising scenario that leans towards a bullish breakout. The current price is hovering above the midpoint of the Bollinger Band, which stood at approximately $12.04. This positioning suggests potential upward momentum in the market.
As a crypto investor, I’ve noticed that when the Bollinger Bands widen, it suggests an uptick in market volatility. Interestingly, finding the price hovering close to the upper band indicates persistent buying pressure – investors are actively purchasing and driving up the value of the cryptocurrency.
In simpler terms, the Relative Strength Index (RSI) currently stands at 60.59, indicating a robust upward trend, but not yet signaling an overbought market condition. A slight increase towards 70 might suggest that the bullish momentum could be strengthening even more in this uptrend.
Simultaneously, the Awesome Oscillator (AO) displayed a positive trend, suggesting an increase in optimistic feelings among traders. However, the smaller bars hint that the momentum might require additional push to achieve further advancements.
On-chain activity and exchange flows
According to Coinglass, there was a total withdrawal of approximately $498,140 worth of Aptos tokens from cryptocurrency exchanges by the 28th of November, as observed in on-chain data.
As a researcher, I’ve observed that this movement signifies a decrease in selling pressure, as token holders are moving their assets into personal wallets. This action could potentially foster price growth.
Although earlier net outflows seemed to point towards a brighter perspective, the latest inflows and outflows demonstrate increased market action, potentially hinting at future market turbulence.
Furthermore, the market is bustling with activity, boasting a daily trading volume of approximately $506 million and an uptick in open interest by around 1.57%, reaching nearly $282 million.
Read Aptos’ [APT] Price Prediction 2024–2025
Market observers are keeping a close eye on significant points, such as the possible support at $12.04 and potential resistance at $13.05, to make informed decisions about Aptos’ price trend.
Aptos appears poised for a significant surge, as both technical indicators and blockchain data suggest it could climb to the $16-$17 price zone.
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2024-11-28 15:36