CandleFocus Aptos (APT) displays stability as golden cross forms ahead of massive token unlock
2024-11-11
Author: Content Editor
The cryptocurrency Aptos (APT) has gained over 30% in the past week, likely due to the historic victory of Donald Trump in the US presidential election. However, there is an imminent token unlock of $121.87 million worth of APT, which could lead to selling pressure and a potential bear comeback. Despite this, APT has shown resilience and stability, with a recent Golden Cross formation indicating further upside potential. Increased trading volumes and social volume suggest growing interest in APT, while steady developer activity and a positive Long-Short ratio inspire confidence in its long-term sustainability. Open Interest in Aptos futures has also surged, signaling strong trader interest. While a solidification beyond the nearest resistance of $10.58 is important for APT's upward trajectory, various factors indicate a potential 70% surge in price to above $18. The overall market performance and a forecasted bullish dominance will also play a significant role in Aptos' future movements.
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