Aptos (APT) Price Eyes Unprecedented High: Here’s How it Strives to Achieve it
Aptos (APT) price is defying market trends and steadily gaining momentum on the daily chart.
The altcoin is now just under 20% away from reaching new all-time highs, as long as it maintains this crucial support level.
Aptos Price Gains Support from the Market
At the time of writing, Aptos price is trading at $16, continuing the bullish trend that started in late February. Despite already experiencing an 80% surge, the growth shows no signs of stopping and could potentially continue.
The first indication of this potential lies in the Average Directional Index (ADX), which measures the strength of a trend and provides insights into the price’s direction. ADX values above the 25.0 threshold signify a strong active trend that could extend further.
Aptos price exemplifies this case perfectly. Apart from being in an upward trend, it is also demonstrating strength in this trend. Additionally, as long-term liquidations decline, investors are likely to become bullish again.
Long contracts typically liquidate during sharp and sudden price declines, leading to pessimism among investors. This prevents the altcoin from finding support to turn bullish again. However, the decrease in trading volumes suggests diminishing bearish sentiment, making Aptos open to bullish bets.
Aptos price could benefit significantly from these bullish bets as they would drive the price even higher.
APT Price Prediction: Next Target – All-Time High?
Aptos price is less than 20% away from its all-time high of $19.92, reached in January 2023. Breaking through this barrier would not only establish a new all-time high but also bring the cryptocurrency closer to the $20 mark.
However, if Aptos price fails to test the $15.68 line as substantial support, it could potentially decline towards $13.61. Losing this level would invalidate the bullish outlook and push APT towards $12.16.