The double-digit gains of Aptos (APT) over the past 24 hours took the altcoin above a critical resistance level.
Aptos rallies strongly to break past the bearish obstacle at the $5.6 price zone. Can bulls push for more gains?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.over the past 24 hours took the altcoin above a critical resistance level. Previously, the bullish rebound failed to cross the $6 resistance level, as the market sentiment swayed in favor of bears.
With buyers finally clearing this hurdle and attempting to flip the $6 price level to support, there is a possibility of further gains for buyers. The short-term outlook will involve a bullish candle close above $6. This would enable buyers to aim for more gains at $6.9 to $7.5. On the flip side, a failure to close above $6 could drop APT back into the range-bound movement.
In the meantime, the RSI and Chaikin Money Flow highlighted the strong buying pressure and capital inflows into Aptos. This could be key to sustaining the bullish rally in the near term.revealed a swift rise in demand which preceded the price pump. With the CVD still in an uptrend, this could be pivotal in maintaining the bullish momentum.
Similarly, the Open Interest rose by 16.8% over the past day. This signaled that market participants were actively going long on APT with the target of riding the bullish wave.Emmanuel is a full-time journalist at AMBCrypto. With a degree in Information Systems, he is curious about the mix of financial data and storytelling. Emmanuel’s focus is on the diverse application of blockchain technology and its revolutionary potential across several industries.
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