Key Insights
- Aptos price could see a reversal and may surge to the $10 mark.
- Aptos TVL hit $977M driven by DeFi and institutional adoption.
Aptos (APT) has shown sideways movement after successfully defending the critical support zone at $5.
The latest charts indicate an ongoing battle as bulls fight hard to cross the 20 day EMA above the $6.50 mark.
At press time, Aptos price was trading at $6.16, noting a rise over 2.30% in the past 24 hours. Its market cap stood at $3.63 Billion, ranked 33rd in the overall crypto market.
Aptos’s recent bounce occurred at a key demand zone of $5, suggesting strong buyer presence and significant accumulation from the lower levels was witnessed.
Aptos Social Activity Booms: A Sign of an Incoming Rally?
The sentiment analysis for Aptos (APT) indicated a notable shift in social volume and weighted sentiment since November.
The surge in social sentiment often precedes significant price movements. The peak in social sentiment at a value of 5.054 around late November parallels a substantial price increase, with the price of Aptos crypto reaching $15.436.
The latest data showed another positive surge in sentiment to 2.74, with the APT price currently around $6.
Aptos sentiment surge has come as a welcome surge for investors. As both the weighted sentiment and social volume shifted positive, more investors are leaning towards optimistic views about the asset, witnessing growing confidence.
Shifts in social volume and sentiment can provide early signals of market movement, allowing for strategic adjustments in position to capitalize on emerging trends or to mitigate potential losses.
Aptos Price Action Signals Strength Above Inversion Point
The $6.25 range emerges as a Point of Inversion (POI) for Aptos crypto because it combines previous resistance with possible support areas.
The price range between $5.875 and $6.375 shows potential to initiate a price recovery according to historical market trends.
A breakthrough from the $6.25 price hurdle might trigger an upward movement toward $7.00 which would match the latest historical peaks.
However, a decline below the Point of Inversion (POI) would result in a downmove toward the support at $5.87 which could indicate strong bearish market action.
APT Price Prediction: What are the Charts Saying?
On the daily timeframe, APT price seemed to consolidate around the 20 day EMA mark and attempts for an upward move.
Moreover, signs of accumulation was witnessed as Delta turned positive, which signals a strong bullish sentiment.
The RSI line stood at 43 underlined neutral outlook and displayed a positive crossover on the charts.
Once Aptos price clears the immediate $6.50 mark beyond the 20 day EMA, a range breakout could be seen ahead.
Going forward, the Liquidation data implies $236k worth of longs against $63k worth of shorts which highlights dominance of long positions, which in turn could fuel a price rally.
The immediate support zones were $5.80 and $5.50, whereas the resistance zones were $6.70 and $7.0
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
