Aptos Lab

Will Aptos (APT) Break $10? Key Resistance Levels and Bullish Outlook Explained

Aptos (APT) has experienced a notable correction recently, but the price is now consolidating within a crucial accumulation zone between $7.50 and $8.50. This zone, often referred to as an “area to hold for continuation,” is characterized by strong buying interest, signaling potential for further bullish momentum if the support holds.

Technical indicators show neutral-to-bullish conditions for APT. The Relative Strength Index (RSI) suggests room for upward movement, leaving the possibility open for a price surge. If APT manages to break the $10 resistance level, it could unlock further gains toward $12.50 and $15. Notable crypto analyst Michaël van de Poppe has weighed in, stating, “Expect that it breaks $10, and then the next run is likely going to be big.”

Despite the potential bullish outlook, recent market activity highlights key levels to watch. APT’s Golden Cross, where the 13-period moving average (MA) crossed above the 49-period MA, initially suggested bullish momentum. However, the price has since dropped below both of these moving averages, now sitting at $8.71 and $8.95, respectively, creating immediate resistance zones. The Money Flow Index (MFI), currently at 36.36, indicates mild accumulation but no strong buying pressure.

Source: TradingView

Support at the $8.50 level remains critical; a breach could send the price closer to the $8.00 mark. Conversely, a move above $9.18 could signal renewed strength and open the door to higher resistance levels.

Futures market data from Coinglass shows a significant increase in APT’s Open Interest (OI), now at $224.99 million—an 8.89% rise in just 24 hours. This surge suggests heightened anticipation for increased volatility as APT nears its critical $10 resistance. Liquidation data shows $33.22K in long positions were liquidated at a price of $8.6876, further supporting the expectation of potential price movements.

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APT is currently in a phase of consolidation, but a breakout above $10 could trigger a more substantial upward move, bringing it closer to key targets.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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