APT is expected to rebound as key support remains above $10.70 amid bullish technical indicators
APT has recently stabilized above the critical support level of $10.70, a level that has been tested multiple times and has proven to be an area of strong demand. This stabilization is crucial as it sets the stage for a possible uptrend. The recent price recovery reflects a shift toward bullish momentum, with APT forming higher lows, indicating increased buying interest.
An immediate resistance level for APT lies at $13.27. This level has previously acted as a rejection point for the price, making it a crucial area for the bulls to reclaim for further gains. A successful break above $13.27 will indicate growing bullish momentum and could pave the way for targets between $16-17.
From a technical perspective, all indicators support the bullish outlook for APT. From the APT/USDT chart, the price is currently above the Bollinger Band midpoint of $12.04. This position and the expansion of the Bollinger Bands suggest increased market volatility, indicating continued buying pressure.
According to Coinglass, recent on-chain indicators show that APT tokens have seen a net outflow of $4.9814 million from exchanges. This trend indicates that selling pressure has significantly eased as investors transfer tokens to private wallets - a sign that may support favorable price movements.
With APT breaking above key support levels and showing bullish technical signals, traders are advised to keep a close eye on key price levels. The combination of technical indicators and positive on-chain activity suggests that Aptos could be close to a breakout, with price targets expected to reach $16-17. Investors should remain vigilant and be ready to act on emerging market signals. $ETH
