Aptos Shows Strong Comeback: What’s Driving the Rally?
From its early August lows, Aptos has demonstrated a strong recovery, trading between $4.19 and $4.85 over the last seven days. APT futures open interest rose 0.71% to $368.56 million, according to Coinglass data, while derivatives volume fell 3.50% to $345.95 million. In contrast to quick rotation, this combination frequently indicates that traders are maintaining positions for extended periods of time despite lower turnover.
Aptos Token Unlock Could Test Key Support Levels
Tokenomist data indicates that 11.31 million APT, or roughly $54 million, will be freed on August 11. This represents roughly 2.2% of the stock in circulation. With a fully diluted worth of $5.61 billion, APT now has 672.7 million in circulation. Such unlock events might negatively change sentiment since newly released tokens may raise selling pressure, especially if recipients opt to realize profits. Whether the market can take in the extra supply without breaching current support levels will determine the effect.
APT Bulls Target $5: Can the Rally Hold?
Since August 5, higher lows have been emerging, indicating that APT‘s short-term trend is still bullish. The relative strength index, which stands at 54.56, suggests neutral momentum and the possibility of movement in either direction. Moving averages over the 10, 20, 30, and 50 periods, which are in the buy area, support the short-term higher trend.
Given that the 100- and 200-day averages are still in the sell area, the longer-term structure might still be brittle. While the Stochastic RSI’s overbought signals alert investors to potential pullbacks, momentum indicators such as the MACD and 10-day momentum show little buying interest. If buyers keep control, APT may retest $4.85 and perhaps climb toward $5.00.
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