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- APT price gained momentum and displayed a range breakout this week.
- Technical indicators suggest a 10% surge in Aptos Crypto as bullish momentum builds.
Aptos is a layer 1 blockchain platform, and its native APT token saw an impressive price surge of over 15% this week. Aptos crypto witnessed a range breakout move and might deliver a sharp upsurge next.
This week, a golden crossover between the 50-day and 100-day EMA was observed, giving a bullish conviction.
Since last month, the Aptos price has traded with a bullish bias, and a rebound was noted from the $5 support zone.
Notably, the APT price recovered more than 70% and regained traction. The token price climbed above the key moving averages and crossed the 50% Fibonacci retracement level. The next significant resistance was around 10% away, but APT crypto could see a short-term rise next.
Aptos Crypto Attempts for a Rally: Is $12 Mark the Next Target?
Aptos crypto saw a multi-month range breakout above the $10 mark and anticipated a rally toward the $12 resistance zone.
The APT coin price was trading at $10.57 at press time, noting an intraday rise of over 4.24%. The altcoin crossed the $10 barrier and could see a 10% rally next.
It would push APT above $11.20, potentially retesting the 61.8% Fib level next. A successful close above the level would send APT toward the $12 mark in the coming sessions.
Crypto Trader TheLordofEntry (@Thelordofentry) mentioned in his post that Aptos crypto had made multiple bottoms around $5 and saw a resurgence. If APT crypto managed gains above the $9.30 mark, it could see a 40% rise soon.
Another bullish confirmation was noted by Ameba (@Ameba), which highlighted that Aptos crypto gave a confirmed range breakout. It could reclaim the $12 and $14 mid-range in the coming sessions.
Per the Fib levels, the 61.8% barrier was around the $12 mark, which bulls are targeting now to reclaim.
The Relative Strength Index (RSI) line rested above the midline region and noted a positive divergence, around 68 at press time.
Moreover, the MACD indicator pointed to a bullish crossover and plotted green histogram readings, conveying increased buying pressure.
What Does the On-Chain Metrics Data Signify?
Apart from the recent price surge, the layer 1 blockchain platform has continued to boost its growth. Notably, the Total Value Locked (TVL) of Aptos crypto hit the highest mark, around $739.16 Million at press time.
Generally, the token’s TVL surge gives a bullish idea that more users have locked in their holdings in the ecosystem, displaying increased adoption and investor interest.
Additionally, the daily active addresses data noted a surge. The recent price rise is because the number of investors that have been participating actively has surged. More than 621k addresses were active on-chain at press time.
The immediate support zones for Aptos were $9.60 and $9, whereas the upside barriers were $10.80 and $11.20.
Disclaimer
Investing in crypto assets involves a high degree of risk. Crypto owners can lose their entire investment due to inherent risks. Past performance is not indicative of future results. Make sure to conduct your own research before investing in cryptocurrencies.
