- Apt tested crucial support of $ 5.91, with bullish indicators suggesting a potential rebound.
- An increase in social volume and open interest has enabled an increasing confidence of investors in the APT.
Aptos (Apt) is currently at a price of $ 6.18, reflecting an increase of 9.48% at the time of the press, because it tests a critical support zone.
The current price action has drawn the attention of investors, because Apt shows promising signs of a potential rebound in its established level of support.
Historically, this area has acted as solid soil, offering opportunities for investors in the average cost at a cost (DCA).
Is the level of support of $ 5.91 a safe bet for Apt buyers?
Aptos recently retests its trend line and the downstream accumulation area, signaling a possible upward dynamic.
The support area around $ 5.91 is crucial to determine if APT can hold and push higher. If this level has remained, Apt could target $ 7.89 before testing the resistance of $ 10.00.
If the APT does not hold the level of $ 5.91, the downward risks become greater. Therefore, keeping a careful eye on this critical support area will be the key to any action to come.
Source: tradingView
Do the technical indicators refer to a bullish reversal?
Looking at the technical indicators, the relative resistance index (RSI) and the divergence of Mobile average convergence (MacD) stressed that the APT could be ready for a reversal.
At the time of writing the editorial’s moment, the RSI was 48.04, which indicates neutral conditions, although it becomes towards the territory occurring.
In addition, the MacD reported a change to the bullish momentum, with the blue line at 0.10 and the Orange signal line at -0.33 to date.
These indicators suggest that APT is starting to take on an upward dynamic, which could lead to an increase in prices if the support is valid.
Source: tradingView
Does social activity push the aptos towards an escape?
The social volume and the domination of the APT also increased, with a 0.53% social domination and the social volume increasing regularly.
This growth indicates more interest in investors and increased attention to social media platforms, often causing prices overvoltages.
As more and more traders are getting involved, this can be propelled to higher price levels, especially if the global feeling of the market becomes positive.
Source: Santiment
Can increasing open interest notify more bruised movements?
Open interest Apt (OI) increased by 15.67% to 162.83 million dollars, reporting increased confidence in the asset.
In addition, the total liquidation of $ 221.3K – $ 117.38K over long and $ 103.73K from shorts. This indicated that traders were betting on new price increases.
This croissant oi, associated with an imbalance in liquidation data, suggests that the APT could continue to see the upward pressure.
Source: Coringlass
Will Apt keep his support and pushing above?
Aptos shows strong signs of maintaining his support for $ 5.91, supported by technical indicators, an increase in social volume and an increase in open interests.
With these bullish signals, it seems likely that AP will hold its support and could soon lead the market to its next upward trend.
However, if it can exceed the resistance of $ 7.89 and reaching $ 10.00 remains to be seen.
