This Crypto Trader Predicts Aptos (APT) Price to Run ‘Quickly’

Aptos (APT) Poised for Potential Rally

At the time of writing, Aptos (APT) is hovering near the psychological and technical resistance level of $10. Analyst Daan Crypto Trades suggests that a breakout beyond this threshold could trigger a strong upward movement.

Daan also highlights support in the $7-8 range, which has provided a stable base for APT in recent weeks. This support zone becomes even more critical as APT has reached the $20 region twice during this market cycle, indicating the potential for another surge.

Thin Volume Resistance and Strong Support

Above the $10 level, trading volume thins out, which could facilitate a rapid ascent if APT breaches this resistance. The lack of historical price activity above $10 suggests potential for significant gains.

Conversely, support between $7 and $8 remains strong. The 200-day and exponential moving averages converge in this range, reinforcing it as a key support zone. This area could provide a buffer in the event of a pullback.

Token Unlocks and Upbit Activity

The recent increase in token unlocks could introduce selling pressure. However, APT has demonstrated resilience during previous upward moves. Additionally, buying interest from Upbit, a major South Korean exchange, could drive further price appreciation, especially if demand surges as observed in the past.

Key Takeaway

The interplay of thin volume resistance above $10 and strong support near $7-8 sets the stage for potential price action. External factors such as token unlocks and Upbit market activity will also influence the outcome.