bullish

Aptos

Million

Coin

Aptos price gained traction and noted a massive 16% rise. The recent surge has amplified the possibility of a bullish reversal in the coin. It has performed extremely well in recent sessions, rising over 25% a week.&nbsp; 
Moreover, the recent surge seemed accompanied by a significant inflow in the derivatives contracts. As per the analysts, the derivatives contracts have noted a robust growth of over 50%, thus driving the price closer to the higher swings.&nbsp; 
Despite the recent efforts, Aptos has still not invalidated the higher supply, which added a risk of selloff at the higher levels. At the time of writing, Aptos was trading close to $6.6, recording an impressive 16% rise in Intraday. 
<h2 class="wp-block-heading" id="h-open-interest-contract-spiked-by-50">Open Interest Contract Spiked by 50%</h2> 
The Aptos coin has performed extremely well in recent sessions, adding nearly 25% a week. The crypto noted an almost 30% crash in tandem with the broader market fall. However, the recent recovery has been quick and loaded with momentum, indicating the possibility of a trend continuation.&nbsp; <iframe loading="lazy" title="Santiment Chart: Total Open Interest in USD (APT), Price (APT)" width="800" height="425" src="https://embed.santiment.net/chart?ps=aptos&amp;pt=APT&amp;df=2024-08-04T18%3A30%3A01.688Z&amp;dt=2024-08-12T18%3A29%3A59.688Z&amp;emcg=1&amp;emhwm=1&amp;wm=total_open_interest%3Bprice_usd&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%2326C953&amp;ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe> 
As per the analysts, the recent price surge has been mainly driven by the derivatives traders. The last couple of sessions saw a notable 50% rise in the open interest data, indicating a strong comeback by the buyers.&nbsp; 
The Number of open contracts was nearly $45 Million, as recorded on 10th August. However, the number of open contracts jumped dramatically to $67 Million, as observed by the analyst today, indicating a nearly $22 Million rise. A rise in the open contracts often shows a continuation in the asset price.&nbsp; 
<h2 class="wp-block-heading" id="h-can-aptos-price-head-for-a-bullish-reversal">Can Aptos Price Head for a Bullish Reversal?</h2> 
After a strong surge in recent sessions, the short-trend Outlook for Aptos has reversed to a bullish one. The price has reclaimed above the 50-day exponential moving average, indicating a sign of optimism in the short term.&nbsp;  
<a href="https://in.tradingview.com/chart/APTUSD/5OywH0Zz-Aptos-APT-Price-Soars-16-Higher-Amid-20-Million-Inflows/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a> &nbsp; <a href="https://in.tradingview.com/"> </a>  
However, the <a href="https://www.thecoinrepublic.com/price-prediction/aptos/">Aptos price</a> lags nearly 19% from the 200 exponential moving average, indicating weakness in the long term. However, the long-term trend may shift to the bullish side if the APT price continues to conquer higher levels with momentum. 
On the higher side, the price has a potential space of nearly 20% if it surpasses the recent supply of $7.5 level. Also, if the selling pressure exceeds and drags the price below the $4.9 level, it may invalidate the bullish scenario and extend its decline toward the $4.5 level. 
<h2 class="wp-block-heading" id="h-apt-price-assessment-nbsp">APT Price Assessment&nbsp;</h2> 
Aptos price surged 16% today, increasing the probability of a potential bullish reversal. The asset has risen over 25% in a week, recovering from an earlier 30% crash. Moreover, the recent price surge was largely driven by a 50% increase in derivatives contracts. The OI data surged from $45 million to $67 million in the last couple of sessions.&nbsp; 
Furthermore, the short-term outlook at press time was bullish, with the price trading above the 50-day EMA. Yet, it lags 19% behind the 200-day EMA. If the Aptos price surpasses $7.5, it could gain another 20%. However, falling below $4.9 could lead to a decline towards $4.5. 
The post <a href="https://www.thecoinrepublic.com/2024/08/13/aptos-apt-price-soars-16-amid-20-million-inflows/">Aptos (APT) Price Soars 16% Amid $20 Million Inflows</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Aptos (APT) Price Soars 16% Amid $20 Million Inflows

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