Aptos (APT), which gained 12.5% over the past 24 hours, has broken out of the consolidation phase sustained since October 13.
Aptos, one of the most popular Tier-1 projects of recent times, has again come under the attention of investors. The smart contracts platform increased its total Asset Value Locked (TVL) by $200 million in the last two days. Aptos, which attracted huge customer interest, started growing at a remarkable pace. APT price increased to $11 in the last 24 hours.
AMBCrypto said that investors have ended the deposit phase to prepare for a possible increase. The analysis suggested that growth could accelerate.
Did Aptos Signal a Bullish?
AMBCrypto made the following statements in its analysis of Aptos (APT):
“Considering the recent movement of the market, an upward trend seems likely.“
APT gained 29.61% last month. APT, which launched with great interest in October, has risen 20% in the past two weeks.
APT, stable between $9.81 and $10.61, broke with gains in the last 24 hours. The analysis showed that market participants bought APT in anticipation of an upward breakout, and such purchases drove the price higher. Pointing to $10.74, the analysis said that the price level in question would be a potential pre-upside demand zone.
The analysis included the following statements:
“Current technical indicators are showing signs supporting the upside potential.“
The MACD indicator indicated that the APT may start to rise. The analysis says that if the positive outlook continues, a golden cross, which is a rally indicator in APT, may form.
The Relative Strength Index (RSI), another data, also gave positive signals. Commenting on the appearance in the RSI, the analyst noted the following;
“The RSI means that the APT price is well positioned for a rally and is likely to see an uptrend that will change the direction of the market in favor of the bulls.“
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
