bullish

Value

Aptos

Coin

The post <a href="https://coinpedia.org/price-analysis/keep-an-eye-on-aptosapt-breakout-from-descending-channel-target-to-9/" rel="noopener noreferrer nofollow">Keep An Eye On Aptos(APT), Breakout From Descending Channel Target To $9.&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Keep An Eye On Aptos(APT), Breakout From Descending Channel Target To $9.&nbsp;
<a href="https://markets.coinpedia.org/aptos/" rel="noopener noreferrer nofollow">APT Coin </a>made a bullish reversal from a low of $4.5 on 5th August to a high of $6.8 at the time of writing. It has crossed the short-term EMAs (10, 20, 30) The Asset has moved nearly 29% in the last 7 days attributing to the increased Open interest value of $52 million to $78 million.&nbsp;
Investors who held their horses at the beginning of this week have experienced extended profits and the breakout from the descending channel validates a continued upward rally.&nbsp;
APT must sustain this ascending resistance flipped support to keep to secure the recent gains.&nbsp;
<h2 class="wp-block-heading" id="h-aptos-got-good-fundamentals">Aptos Got Good Fundamentals</h2>
The Total value locked (TVL) for aptos shows an uptick, the surge at the of writing shows $397.25 million which is very significant for asset growth.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcW1ZSNtxmvU-Fuwo_CWdsaUQySbSnL-AGGnLBIA--iBuWB7CXGk6FKhmkbFTpMtAWyaIkI0olmJzUc_aHWzyChKPgXdeJlkJ2FALVoruKXS-a6XZ2VNqD4bTD85oZ26fXAlBabTmW0RmWias1th3VpmI5_?key=s4P65PTIg28it4KrYt_yIg" alt="">
</figure>
On the other hand, the Open Interest (OI) Value for Aptos surged from $52 million to $78 million, a 50% spike in a week.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc2PHvLKHUy2jN8QBqe_l-7iaU_-Vb948cdjmS_i7cNFKI7qSVBrXZlk5HmpzAg_Mk1vnO7wAKzpx3ccgMInpKiXdRTKFw3BbN6IB1RXj1NR9UFiHLmM4say8_JDC8324NkaVekIx_jSP2zE17wFaBBxbEA?key=s4P65PTIg28it4KrYt_yIg" alt="">
</figure>
The increase in Open interest signifies that more investors are entering the asset and this could significantly impact the price growth.&nbsp;
<h2 class="wp-block-heading" id="h-aptos-technicals-are-good-too-nbsp">Aptos Technicals Are Good Too&nbsp;</h2>
The APT/USDT Chart reveals the price just testing the break above the Descending channel, flipping the resistance to support.&nbsp; If Sustained the bulls can lead APT to hit $7.2 in the next few sessions.&nbsp;
Additionally, MACD just made a bullish crossover indicating a continuous surge, and the Money flow index (MFI) shows a north direction uptick.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="432" src="https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-1024x432.png" alt="" class="wp-image-338790" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-1024x432.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-300x126.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-768x324.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-1536x647.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-2048x863.png 2048w, https://image.coinpedia.org/wp-content/uploads/2024/08/14195948/image-251-150x63.png 150w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Breaching above $7 will strengthen the rally, followed by higher lows to test this as support line APT can rise to $9.&nbsp;
Conversely, if the breakout doesn’t act as predicted, APT could fall under the ultimate strong support at $4.8, resulting in further sell-offs.&nbsp;

Keep An Eye On Aptos(APT), Breakout From Descending Channel Target To $9.

Table of Contents

CoinPedia News

Other articles published on Aug 14, 2024

Huawei Challenges Nvidia with New AI Chip: A Technological Race with Geopolitical Implications

Did Gary Gensler and Elizabeth Warren Purposely Suppress XRP Prices to Buy at a Lower Cost?

Why Bitcoin Prices Slipped on Major Exchanges

Following WienerAI’s 86% Tumble, Presale Buyers Flock to BlockDAG for Massive ROI

Kaspa Hits $0.20 ATH, Flips MATIC’s Market Cap Amid Top Crypto Presales in August

The Neiro Ethereum Price Plunges 18% In A Week As This New Meme Coin Races Towards $1 Million

Join our free newsletter for daily crypto updates!