The trajectory of Aptos [APT] remains upward, recently exceeding the $14 threshold. Analyst Michaël van de Poppe indicates a potential continuation of the bullish trend, suggesting a target of $20 if essential support levels are maintained.
Aptos recently broke through the $11.30–$11.50 range, previously a resistance area that has now turned into a support zone. This shift signifies an ongoing bullish momentum.
Experts propose that a successful retest of this support level would further confirm the upward movement.
Market data reveals sustained buyer interest, with significant volume accompanying the breakout. This points to confidence among traders and corroborates the prevailing upward trend.
Crucial barriers
As of the latest update, Aptos was priced at $14.24, indicating a 0.99% increase in the last 24 hours and a 12.85% surge over the week.
Analysts have pinpointed two pivotal resistance levels to observe closely: the first near $13.80–$14.00, aligning with a previous peak, and the second around $17.00, a historical hurdle.
A breakthrough above these levels could pave the way for a move towards $20. However, traders are cautious about potential profit-taking, given the rise in APT deposits on exchanges.
Strong momentum signalled by technical indicators
Technical indicators imply that APT’s upward trend may have further room to run. The Relative Strength Index (RSI) registers at 64.44, indicating bullish momentum while staying below overbought levels, allowing for additional advancement.
The Moving Average Convergence Divergence (MACD) affirms positive momentum, with the MACD line positioned above the signal line and the histogram showing green bars, indicative of heightened buying activity in the market.
Moreover, the price is testing the upper Bollinger Band, signaling robust bullish momentum. The middle band, estimated around $13.00, is viewed as a critical support level in case of a short-term pullback.
Increased interest evident in market activity and on-chain data
Coinglass’s on-chain data presents a mixed outlook for APT. While trading volume has declined by 28.50% to $746.39 million, Open Interest has remained stable with a slight uptick of 0.08%, indicating sustained market participation.
A net inflow of $1.49 million into exchanges suggests potential selling pressure as traders may transfer tokens for profit realization.
Despite these fluctuations, the overall sentiment remains positive, with the asset displaying a clear bullish pattern.
Analysts persist in monitoring key retests and resistance levels as Aptos approaches its next milestones.