💥💥💥 Can #Aptos Price Hit $20 Amid Soaring Network Activity?
Aptos Price Breaks Out of Consolidation, Eyes $20 as Network Activity Soars
- Aptos (APT) has shown strong momentum after breaking out of a prolonged consolidation phase. Currently, APT is up 1.1%, trading at $8.88, while the broader crypto market faces a 5% decline due to Bitcoin’s slide below $60,000 on October 3. On-chain metrics suggest APT could be headed for higher highs as bullish sentiment among derivative traders continues to grow. Could $20 be the next target for Aptos?
Can Soaring Network Activity Drive Aptos Price Growth?
- Aptos network activity has been surging, hitting new highs across several key metrics. Data from Aptos Scan reveals that network speeds reached a monthly high, with user transactions per second (TPS) soaring to 1,051 on October 3. Faster transaction speeds improve user experience and attract new investors, adding to the bullish case for Aptos.
- Aptos' daily active accounts hit a monthly high of 3,750,939 on October 3, reflecting growing engagement and supporting bullish sentiment. APT's price rise aligns with network growth, and the launch of Franklin Templeton’s on-chain Money Market Fund could push APT toward $20 and beyond.
APT Price Analysis: Path to $10 and Potential for $20
- APT has shown signs of bullish continuation after breaking out of its consolidation zone. The price currently trades above the 50-day and 200-day exponential moving averages (EMA), both strong bullish indicators.
- The next resistance level for APT lies at $10.7, matching prior highs. If it clears this, the next major resistance is $19.00, a key target on the chart.
- Immediate support for APT is at $7.70, with stronger support at $7.11. The RSI at 64.24 suggests upside potential but hints at a possible short-term correction. If APT fails to hold above its breakout, it may fall to $5.5. However, strong network activity and price action indicate further gains are likely.
Source - coingape.com
