The value of Aptos [APT] has been steadily rising, recently surpassing the $14 threshold. Analyst Michaël van de Poppe has put forth the idea that an optimistic trend may continue, potentially reaching $20 if essential support levels remain intact.
Aptos recently exceeded the previously challenging $11.30–$11.50 range, now acting as a support region instead of a resistance zone. This transformation indicates a sustained bullish momentum.
Industry experts propose that a successful test of this support area would further corroborate the uptrend.
Market dynamics indicate that buyer enthusiasm has remained strong, with significant trading volume accompanying the price surge. This underscores the confidence among market participants and aligns with the current upward path.
Crucial levels of resistance
At the current moment, Aptos is priced at $14.24, marking a 0.99% increase in the last 24 hours and a 12.85% surge over the past week.
Analysts have pinpointed two pivotal resistance levels worth observing: the initial one is in the vicinity of $13.80–$14.00, which corresponds to a previous peak, and the second is approximately $17.00, historically known as a barrier to surpass.
A breakthrough beyond these thresholds could pave the way for a push towards $20. However, traders are wary of potential profit-taking, as data on deposits into trading platforms shows an uptick in APT holdings.
Technical signals indicate robust momentum
Technical indicators suggest that the upwards trajectory of APT has room to grow. The Relative Strength Index (RSI) is at 64.44, indicating bullish momentum while staying below the overbought zone, allowing for further advancement without immediate risk of reversal.
The Moving Average Convergence Divergence (MACD) indicator also validates the positive momentum, with the MACD line positioned above the signal line and the histogram bars displaying green, indicating an increasing buying pressure.
Furthermore, the price is testing the upper Bollinger Band, indicating a strong bullish momentum. If there is a temporary pullback, the middle band sitting near $13.00 is seen as a critical support level.
Market dynamics and on-chain data show heightened interest
Data from Coinglass illustrates a mixed overview for APT. Despite a 28.50% decrease in trading volume to $746.39 million, Open Interest has remained steady with a minor increase of 0.08%, implying sustained market involvement.
A net inflow of $1.49 million into exchanges suggests potential selling pressure, as traders might transfer tokens to platforms for profit realization.
Regardless of these fluctuations, the general sentiment remains positive as the asset displays a clear bullish trend.
Analysts continue to be vigilant about key retests and resistance levels as APT approaches its upcoming targets.