Are Buyers Ready to Push the APT Price to New Highs?

1. Aptos is a layer 1 blockchain category cryptocurrency.
2. In the last seven days, the APT crypto price has increased by 11%.

Aptos (APT) is a blockchain token that uses Move, a smart contract language, and a parallel execution engine. APT is used for fees, staking, and governance on the Aptos network, which is developed by Aptos Labs, a team with Diem experience.

The circulating supply of the APT crypto is 304.395 Million and the fully diluted market cap of the crypto is $8.923 Million. The APT crypto has hit an all-time high of $19.92 and the price is currently 57.78% below the price.

The current market cap dominance of Aptos is 0.157%. Its market cap ranking is #35 and the volume/market cap ratio of the crypto is 0.1502, as per Coingecko.

Aptos Derivatives Analysis

The Aptos crypto is trading with a long/short ratio of 0.9402 with a rise of 148% in the derivative trading volume in the last 24 hours. Additionally, the open interest of the crypto has increased by 10.7%, resulting in a heavy long liquidation of $937.56K. 

APT Crypto Technical Analysis

After declining by more than 70% from the all-time highs, the APT crypto price is rising to higher levels. It is consistently forming a higher high structure on the charts, leading to new swing highs.

APT/USD Chart by TradingView

By taking support from the 50-day and the 200-day EMAs, the trading price of the APT crypto is slowly advancing to higher levels. The EMAs are also forming a golden cross, indicating an uptrend on the charts.

The MACD indicator is in an uptrend giving a buy signal as the signal line is situated above the MACD line. Additionally, the lines are above the zero level and are forming bullish volume blocks.

Conclusion

Aptos (APT) crypto shows bullish signs with an 11% price increase in the last seven days. Technical analysis reveals a rebound from a 70% decline, forming higher highs, and a golden cross formed by the 50-day and 200-day EMAs, signaling a potential uptrend. The MACD indicator also supports a bullish outlook.

Technical Levels 

• Support levels- $4.70 and $6.60
• Resistance levels- $ 12.60 and $18.40

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.