Key Points
Aptos broke higher lows, with $13.27 resistance and a $16-$17 target on the horizon.
The metrics supported bullish momentum for Aptos’ next move.
Aptos [APT] has gained attention as its price stabilized above a key support zone at $10.70. This level, identified as critical for continuation, has been tested multiple times and has proven to be a strong demand area.
The price recovery from this zone has allowed APT to form higher lows, signaling a potential shift to bullish momentum.
At press time, Aptos was trading at $12.64, reflecting a 4.44% gain in the past 24 hours and an 8.85% rise over the last week.
Resistance at $13.27 and targets above
The next immediate resistance for APT lies at $13.27, a zone where the price recently faced rejection. This resistance aligns with historical breakdown points and acts as a key level for bulls to reclaim.
Breaking above this resistance would indicate growing bullish momentum and pave the way for further gains.
Michaël van de Poppe, a crypto analyst, has identified $16-$17 as the next potential target for APT.
“The markets are heating up, and the ecosystem of $APT is growing, too. Held a crucial level, and I think that their ecosystem might see more opportunities in the future. I think the next target is $16-17,” he stated.
A move to this range would represent a 26%-34% upside from current levels.
Technical indicators suggest bullish momentum
Technical indicators support the case for a bullish breakout. The APT/USDT chart shows the price trading above the middle Bollinger Band, which was at the $12.04 mark.
The widening of the Bollinger Bands indicates increasing volatility, while the price near the upper band reflects sustained buying pressure.
The Relative Strength Index (RSI) stood at 60.59, pointing to strong bullish momentum without reaching overbought levels. If RSI moves closer to 70, it could confirm further strength in the uptrend.
Meanwhile, the Awesome Oscillator (AO) was in the green, indicating growing bullish sentiment, though smaller bars suggest momentum may need a boost for further gains.
On-chain activity and exchange flows
On-chain data revealed a net outflow of $498.14K in Aptos tokens from exchanges as of the 28th of November, according to Coinglass.
This movement indicates reduced selling pressure as holders transfer tokens to private wallets, which may support price growth.
While net outflows suggested a more optimistic outlook, recent inflows and outflows highlight heightened market activity, indicating potential volatility.
Moreover, Market activity remains robust, with a 24-hour trading volume of $506.02 million and open interest increasing by 1.57% to $281.96 million.
Traders and investors are closely monitoring key levels, including support at $12.04 and resistance at $13.05, to assess the next move in Aptos’ price trajectory.
Aptos remains positioned for a breakout, with technical and on-chain signals pointing to a potential rally toward the $16-$17 range.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.