Aptos (APT) on the Move: Will the 11% Surge Lead to a Bullish Breakout or Just Short-Term Hype?

• Aptos is trading around the $4 level.
• APT’s trading volume has surged by over 251%.

The crypto market is failing often to sustain the recovery attempts, remains under bearish grip, with neutral sentiment lingering within the market as the fear and greed index value settled at 48. Among the altcoins, Aptos (APT) has jumped by over 11.19%, emerging as one of the top gainers within the last 24 hours

The extended bullish pressure has the potential to drive the price up to new highs after breaking crucial resistance levels. Notably, APT opened the day trading at the bottom range at around the $4.25 range. Gradually, the wake of bulls likely drove the price to a high of $5.14

At the time of writing, Aptos traded at around the $4.76 mark, with its market cap at $3.06 billion. The asset’s daily trading volume has skyrocketed by over 251%, reaching $662 million, as per CMC data

Aptos has gained by over 8.84% in the last seven days. The asset began trading the week at $4.30 level and has recorded its low and high price ranges at $3 and $5, respectively

Can Aptos Climb Higher?

The four-hour candlestick of Aptos reports strong bullish sentiment. The price might climb toward the $4.80 mark. A steady correction on the upside could push the price to move up to its former highs around the $5 range. The emergence of the golden cross might trigger to visit its former highs

Contrarily, a bearish shift could lead the asset’s price to fall and retest the support near the $4.60 zone. Further downside correction might reinforce the Aptos bulls and likely face a series of support levels at around $4.50. If the death cross has formed, the price might steeply fall

*APT chart (Source: TradingView)*The asset’s Moving Average Convergence Divergence (MACD) line is positioned above the signal line. This crossover generally indicates the potential bullish shift in the market. Moreover, Aptos’ Chaikin Money Flow (CMF) indicator resting at -0.07 suggests moderate selling pressure and the money is flowing out of the asset

Furthermore, the Bull Bear Power (BBP) value of 0.398 implies a bullish momentum in the market, with upward price pressure. Besides, Aptos’ daily relative strength index (RSI) settled at 64.18 signals its bullish sentiment, with more room for upward movement before a correction.

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